During the second quarter, MyPublisher’s growth increased by more than 150 percent compared to the previous year and, during the month of June, revenue increased by more than 200 percent compared to the same period the previous year; at the same time, the company showed strongly improved cash flow. The other major holdings, i.e. Explorica, Qbranch and Strax, also showed very strong growth in revenues during the second quarter.
The development in the public portfolio, which is under management of Nove Capital, was also strong during the second quarter and contributed to continued result improvements for Novestra during the period. During the current year, the result as well as shareholders’ equity are expected to substantially improve compared to the previous year.
Novestra’s interim report for the second quarter will be made public on August 25, 2005.
“The development in our portfolio has lately even exceeded our relatively high expectations. In particular, we have seen continued success among our American companies where MyPublisher’s continued rapid expansion gives reason for great expectations,” Novestra’s Managing Director, Peter Ekelund, says.
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. Active Biotech AB (publ), Bytek Systems AB, Explorica, Inc., inWarehouse AB (publ), Millicom Cellular International S.A., MyPublisher, Inc., Netsurvey AB, Pergo AB (publ), Qbranch AB, Strax Holdings, Inc. and Wilh. Sonesson AB (publ) as well as Speedera Networks, Inc. through the co-investment vehicle Continuum Group Ltd.
The Novestra shares are listed on the O List of the Stockholm Stock Exchange. For further information regarding AB Novestra, reference is made to www.novestra.com .
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