Stockholm-listed gaming operator Cherry has grown first quarter revenue by 26 per cent to SEK681.0m (€64.0m), with revenue growth on an organic basis amounting to 25 per cent.

The strong revenue growth and improved operational efficiency helped drive EBITDA up by 131 per cent to SEK192.0m, with an EBITDA margin of 28 per cent versus 15 per cent in Q1 2017.

"The first quarter of 2018 shows that Cherry’s business model yields good results," said Cherry chief executive Anders Holmgren. "Growth continued with increased profitability, and we see good prospects for 2018 becoming a good year for Cherry’s shareholders."

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