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Swedish multi-channel gaming group Cherry has indicated that its first-quarter performance is likely to exceed expectations when its interim report is published in May.

In a statement, the group said that a preliminary assessment of performance in the first three months of 2018 showed strong growth in both revenues and earnings.

First-quarter revenue is expected to total SEK675m (€64.7m), up nearly 25 per cent year on year, while earnings (EBITDA) are set to be SEK188m (€18m), a rise of more than 125 per cent on the corresponding 2017 period.

The EBITDA margin for the quarter is expected to amount to 28 per cent.

Cherry attributes the unexpected boost to the performance of its online gaming business, which included “the more efficient organisation of ComeOn operations” along with a strong showing from other igaming brands.

Cherry is to present its interim report for first three months of the year on May 3, 2018.