Kambi Group’s share price was up 16.35% this morning (22 February) after the sports betting supplier reported revenue and net profit growth for the fourth quarter of its 2022 financial year.

The group said it was able to finish 2022 with a “flourish” and despite ongoing uncertainty over the global economic outlook, is in a “fantastic” position to pursue its growth goals in 2023 and beyond.

This came after supplier last month forecast its operating profit would skyrocket to €150.0m (£132.2m/$159.6m) by 2027, with revenue expected to be between €300.0m and €500.0m.

At the time, Kambi said the main reason for this growth would be an expected expansion of its total addressable market, especially in the US.