The growth in sales among the directly owned non-public portfolio companies are expected to increase compared to the first quarter and for the first half of this year the companies are expected to show a substantial increase in revenue compared to the same period the previous year.
The development of Novestra’s public portfolio has been very positive during this year’s first six months and the capital provided through the new share issue will enable a continued expansion and development of the company’s business.
“We have seen increased sales and improved results in all non-public portfolio companies. Already during the first quarter, increases in sales were substantial and are now generally well above our previous expectations for 2004.
A case in point is that MyPublisher has increased its revenue month by month and in June is expected to show a growth of 80 to 100 percent compared to the same period the previous year. Also, Explorica’s booking figures have increased dramatically and companies such as Strax, which previously already has shown a solid performance, has shown further improvements. Among the Swedish holdings, it is noteworthy that Qbranch continues to grow with one of the highest margins in its sector,” Novestra’s Managing Director, Peter Ekelund, says in connection with today’s extraordinary general meeting.
For further information, please contact Peter Ekelund, Managing Director, 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., IBS AB (publ), inWarehouse AB (publ), Lagercrantz Group (publ), MyPublisher, Inc., Netsurvey AB, Pergo (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