Kindred Group has reported its strongest quarter ever, with gross winnings revenue reaching approximately £365m ($496.4m), a 55% rise from Q4 2019.

The operator achieved the growth through “continued strong activity across its markets and products,” with record active customers of 1.78 million, an 11% year-on-year increase.

Kindred added that a “slightly higher than normal sports betting margin” of 10% also played a role in revenue growth, compared to the long-term average margin of 8.5%.

Underlying EBITDA for Q4 2020 is approximately £115m, compared to £30.7m in Q4 2019, with strong revenue growth, and Kindred’s focus on operational efficiency and costs both playing a key role in the rise.