Strong Performance From Cherry Group In 2015

STRONG PERFORMANCE FROM CHERRY GROUP IN 2015

18th February, 2016 at 09:17:09
Source: http://www.azonlinecasinos.com

Fourth quarter revenue growth of 72 percent.

The Cherry online and land gambling group enjoyed a good full year 2015, boosted by a particularly strong fourth quarter in which revenues rose a remarkable 72 percent.

Highlights of the company's Q4 results included:

* Group revenue increased by 72% to SEK 172.5 million (100.2), with online operations contributing 74% (58);

* There were marked increases in profitability,EBITDA at SEK 23.4 million (-6.5) and EBIT of SEK 16.4 million (-10.6);

* Profit after tax was SEK 12.9 million (-15.3);

* Online gaming revenue grew by 109% and EBITDA reached SEK 15.4 million (-4.3);

* Online gambling software and game development subsidiary Yggdrasil grew by 696% with EBITDA up SEK 4.9 million (-1.4);

* Yggdrasil was awarded a UK operating licence during the fourth quarter and the first customers are expected to go live by the end of Q1 2016;

* In October, Cherry acquired an additional 4% of the shares in the Malta-based company Almor Holding Limited.

For more information on Cherry online casino, please refer to the online casinos page here at AZOC.

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