During the beginning of this year, the majority of Novestra’s industrial holdings have had a positive business and revenue development. The following five companies will be presented on an individual basis during the spring.
U.S. based Strax, Inc., which produces and sells mobile accessories, has commenced the year by continued strong growth and has, during the year’s first six weeks, increased its sales by 115% to MUSD 7.3. The company expects continued profitable growth this year and estimates sales of at least MUSD 60 during 2002.
MyPublisher, Inc. has had a commercial break-through in connection with the launch of Apple’s iPhoto and shows strong growth in sales during the beginning of the year. Existing distribution agreements are expected to generate continued increase in sales and the company estimates positive cash flow during 2002.
Qbranch AB, Sweden’s leading System Management consultancy, continues to show positive result in the beginning of the year and, after last year’s growth of approx. 80%, expects continued positive development during 2002. Qbranch has initiated a number of new strategic collaborations with global players such as e.g. Microsoft.
Continuum Group Ltd has had a positive development amongst its portfolio companies. The company estimates that all its major holdings have all the prerequisites for reaching positive cash flows: B2 Bredband AB (9%), Bibit Billing Services B.V. (25%), Speedera Networks, Inc. (20%).
Netsurvey AB, which showed positive cash flow for the first time in the last quarter of 2001, has gained, i.a., Procter & Gamble as a new customer in addition to already existing customers such as Volvo Car Cooperation, Atlas Copco and Cap Gemini Ernst & Young. The company expects continued growth during 2002.
In connection with a series of lunch meetings at Operaterrassen, Stockholm during the spring, these companies will present their businesses commencing March 7 as follows:
myPublisher, Inc. Thursday March 7, 2002
Netsurvey AB Thursday March 21, 2002
Qbranch AB Thursday April 4, 2002
Strax, Inc. Thursday April 18, 2002
Continuum Group Ltd Tuesday May 14, 2002
For more information contact Cecilia Janson, AB Novestra, tel. 08-545 017 50.
About AB Novestra
AB Novestra is an independent venture capital investment company with focus on companies providing enabling network technologies and services for the communications industry. Novestra’s portfolio of companies includes B2 Bredband AB, Comintell Holding AB, Continuum Group Ltd, myPublisher, Inc. (formerly Recollections, Inc.), Netsurvey AB, Qbranch AB, Strax Holdings, Inc. and a number of other holdings. Novestra’s shares are listed on the O-List of Stockholmsborsen.
For information regarding AB Novestra, please see www.novestra.com