Indications from Novestra’s private equity portfolio companies show continued improvements in revenue and results in the beginning of the year. In particular, this applies to the American holdings Explorica, Inc., MyPublisher, Inc. and Strax Holdings, Inc., but Qbranch AB has also seen improvements in results.
Novestra’s co-investment vehicle Continuum Group Ltd’s portfolio has had a continued strong development. Speedera Networks, Inc. was last year named the second fastest growing private company in Silicon Valley by the San Jose Business Journal and PricewaterhouseCoopers.
As at February 29, 2004, Novestra’s realised gains for 2004 and total unrealised gains in its public equity portfolio amounted to MSEK 36.8 corresponding to SEK 1.18 per share.
“Even without meaningful exits in the private equity portfolio, Novestra sees an opportunity to considerably improve its full-year profit in 2004 compared to 2003,” Novestra’s Managing Director Peter Ekelund says.
For further information, please contact Mr Peter Ekelund, Managing Director, 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., inWarehouse AB (publ),
JC AB (publ), MyPublisher, Inc., Netsurvey AB, Qbranch AB and Strax Holdings, Inc. as well as the co-investment vehicle Continuum Group Ltd. The Novestra share is listed on the O-List of Stockholmsbörsen.
For further information regarding AB Novestra, please see www.novestra.com