Cherry AB bottom line grows more than twofold in H1

If their flesh was rotted away, once they’re dead you have your memory of them but you haven’t got them.

Stockholm-listed gaming operator Cherry AB became more profitable in the first half of 2018 on the back of aggressive marketing spending.

On Thursday, Cherry announced that its profit grew more than double to SEK180 million ($19.59 million) in the first six months of 2018 from SEK51 ($5.55 million) posted in the same period a year ago.

Figures released Thursday showed Cherry’s group revenue rising 33.14 percent to SEK 1.43 billion ($155.6 million) in H1 2018 from SEK1.08 billion ($117.52 million) in H1 2017. The Nordic operator’s profitability was reflected by the 103 percent increase of its EBITDA to SEK357 million ($38.85 million) year-on-year. Its EBITDA margin rose 25 percent in January-June 2018 period from 16 percent in H1 2017.