Cherry: First comment Q3, better than we thought

Research Note

2016-11-09

13:29

This morning Cherry presented their report for the third quarter of 2016. The report was strong and exceeded our expectations both on the top-line and profit levels. The result is also negatively affected by non-recurring costs for the ComeOn acquisition, so the underlying profitability is even stronger. ComeOn´s management has also revised their 2016 forecast upwards, mostly on the profit side. The company now expect to have net sales of SEK 1bn with an EBIT of SEK 260m during 2016. Yggdrasil continues to deliver and Restaurant Casino showed great progress.

KL

Kristoffer Lindström

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