UPDATED TUE, 02 April, 2024 14:00 CEST
The net foreign exchange impact of the Kindred Group’s main trading currencies against its reporting currency of GBP is shown in the tables below. While this has no material impact on the underlying development of the Kindred Group’s business, it does affect the reported results when translated into GBP.
The weighted average movement of GBP against the Kindred Group’s main currencies was a negative impact on Gross winnings revenue of approximately 3 per cent in the first quarter of 2024 compared to the same period of 2023.
| Balance sheet rates: | |||
| Rate to GBP | 31-Mar-24 | 31-Mar-23 | YoY Delta |
| AUD | 1.942 | 1.850 | -5.0% |
| DKK | 8.722 | 8.472 | -3.0% |
| EUR | 1.169 | 1.137 | -2.8% |
| NOK | 13.681 | 12.960 | -5.6% |
| SEK | 13.478 | 12.830 | -5.1% |
| USD | 1.264 | 1.237 | -2.2% |
| Income statement averages for the quarter: | |||
| Rate to GBP | Avg Q1 24 | Avg Q1 23 | YoY Delta |
| AUD | 1.928 | 1.778 | -8.4% |
| DKK | 8.706 | 8.428 | -3.3% |
| EUR | 1.168 | 1.132 | -3.2% |
| NOK | 13.332 | 12.446 | -7.1% |
| SEK | 13.171 | 12.686 | -3.8% |
| USD | 1.268 | 1.215 | -4.4% |
