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Profit declines at Cherry despite revenue gains

20th February 2013 11:10 am GMT

Sweden’s Cherry has reported a 28 per cent increase in total revenues to SEK473.1m for 2012 following a record performance from its Restaurant Casino business during the final quarter of the year.

Fourth quarter revenues increased by 52 per cent to SEK177.1m, inflated by non-recurring items relating to the purchase price and impairment of goodwill of the Automaten online gaming brands amounting to SEK73.4m. The company yesterday announced the sale of the Automaten brands to Betsson [...]

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