Novestra’s portfolio company Qbranch experiences continued strong growth. The strong intake of new contracts during the second half of 2010 has started to show in the figures, as the services according to the contracts have been launched. During the period January 1 – April 30, 2011, the growth was close to 20 percent, and for April alone, growth exceeded 30 percent.
The growth emanating from the strong intake of new contracts, in combination with the acquisition of the sourcing business in Datametrix, results in the company being optimistic for prospects in 2011.
“It is inspiring to see the efficiency of Qbranch when everything runs at full speed. It is not only noticeable in the figures, but can clearly be seen, and felt, in every part of the premises and in the employees’ eyes. In the past, Qbranch has only grown organically, and it is even more satisfactory to have proven to ourselves that we can handle acquisitions. It has been a pleasure to welcome the new co-workers from Datametrix, and we have started to work with the new customers that the acquisition added” says Ulf Engerby, CEO of Qbranch.
“The positive development in Qbranch is very rewarding at this time, given that Qbranch has made public the plans for an IPO. The business model, with contracts spanning over several years and concurring revenues, provides good comfort to expectations on continued growth” says Johan Heijbel, Managing Director, Novestra and board member, Qbranch.
For further information, please contact Johan Heijbel, Managing Director AB Novestra,
+46 (0)8 545 017 50.
About AB Novestra
Novestra is an independent investment company with a portfolio of investments in a number of privately held growth companies including Diino Systems AB, Explorica, Inc., MyPublisher, Inc., Netsurvey AB, Qbranch AB and Strax Group GmbH. In addition, Novestra has an investment corresponding to approximately 6 percent of the shares in WeSC AB, listed on First North.
The Novestra shares are listed on the Nasdaq OMX Stockholm, under the symbol NOVE, in the Small Cap section. For further information regarding AB Novestra, reference is made to www.novestra.com
Download press release (PDF)