AB Novestra’s estimate of a full-year result of MSEK 35 – 40 is likely to be exceeded. There will be a small improvement in profits already in the third quarter report and with current market conditions the prospects for continued increase in profits for the fourth quarter are favourable.
The positive development among the non-public portfolio companies has continued during the third quarter and Novestra now estimates that this trend continues during 2005. IPOs or industrial sales among the larger private holdings are likely to result in continuous improvements in Novestra’s results over the next few years.
“Even though we generally have been positive before, there have been uncertain factors, since the non-public portfolio consists of relatively young companies. These businesses now begin to reach such proportions that they become less dependent on the development in the financial markets for their future growth. Most companies are now able to expand rapidly using the capital they generate themselves. This development has made these companies more attractive as IPO candidates as well as acquisition targets for their larger competitors,” Novestra’s Chairman, Theodor Dalenson, says.
For further information, please contact Theodor Dalenson, Chairman, AB Novestra, phone No. +46 8 545 017 50.
About AB Novestra
Novestra is an independent investment company with a portfolio of small cap private as well as public companies. Novestra focuses on investing in companies with substantial growth or value potential.
Novestra’s portfolio of companies consists of i.a. Explorica, Inc., FLEXbridge Technologies, LLC, IBS AB (publ), inWarehouse AB (publ), Lagercrantz Group AB (publ), MyPublisher, Inc., Netsurvey AB, Pergo AB (publ), Qbranch AB and Strax Holdings, Inc. as well as the co-investment vehicle Continuum Group Ltd. The Novestra shares are listed on the O List of Stockholmsbörsen (the Stockholm Stock Exchange).
For further information regarding AB Novestra, please see www.novestra.com .