Angry Birds maker Rovio sees profits soar 43pc
Rovio Entertainment has said its profitability improved in the first quarter after the Angry Birds gamemaker spent less on winning over users for its games and saw cost efficiencies in brand licencing. Adjusted earnings before interest, tax, depreciation and amortization grew 43pc to €14.6m. The earnings margin rose to 22.2pc of sales, up from 15.4pc a year ago. The stock advanced 5.5pc at one stage yesterday.