Cherry preliminary results set to outstrip forecasts
News on 16 Apr 2018
News on 16 Apr 2018
Cherry AB has revealed better than expected growth in revenues and EBITDA ahead of the release of its first quarter 2018 report.
The company said revenues are now expected to reach SEK 675 million (Q1/2017: SEK 541 million) and EBITDA SEK 188 million (Q1/2017: SEK 83 million) with EBITDA margins at 28 percent (Q1/2017: 15 percent).
The performance is largely attributed to Cherry’s Online Gaming division which enjoyed ‘favourable market growth’ as well as its Online Marketing and Game Development businesses.
