Cherry Announce Revenue Growth Of 22% For First Quarter Of 2014
Swedish gaming company Cherry have today reported a sharp increase in revenues for the first period of 2014, just three months after reporting net losses of SEK8.2 million for 2013.
Cherry have reported revenues of SEK73 million for the first quarter of 2014, up from the SEK59.8 million of last year, revenues that represents a 22% increase. Online gaming revenues were the main reason behind the increase as they rose 43% from 2013 to now stand at SEK39.1 million, up from the SEK27.4 million during the same time frame as last year.
It appears as though the disappointment of last year is a thing of the past as Cherry also reported that 43,320 new customers signed up during the first quarter of 2014, while active players rose from 20,001 to 22,085 during the same time frame.
Emil Sunvisson is the CEO at Cherry and he was in buoyant mood this morning as he said, “2014 has in many ways had a positive start. Cherry continues to gain market shares, both online and within restaurant casino. Extensive marketing activities have generated a large customer intake, but continue to burden the results. High bonuses in connection with the intake of new clients also have an effect on the turnover. We now increase focus at taking care of our customer base and increase loyalty, to thus increase profitability. We will continue to further improve our products with the objective to offer maximum fun and excitement.”
After last years results Cherry will have welcomed the increase announced today, and it appears as though the company is heading once again in the right direction, for now at least anyway.