Place all ingredients into a saucepan and bring to the boil, simmer for 30 minutes until liquid is reduced by 1/2 volume and cherries are caramelised and softened.
Remove from heat, strain cherries, reserving the liquid.
Set cherries aside and place liquid back into saucepan.
Simmer the liquid until it thickens, about 2-3 minutes. Remove from heat and add the cherries back in.