By Dominic Chopping

STOCKHOLM--Investor AB (INVE-B.SK) Wednesday reported a sharp rise in third-quarter net profit as earnings were boosted by higher valuations of its investments.

Investor's net profit rose to 25.6 billion Swedish krona ($2.87 billion) during the period compared with a profit of SEK5.38 billion a year earlier. Its net asset value rose to SEK487 at the end of September 2018 from SEK448 at the end of June 2018.

For its listed core investments, the total return amounted to 9% during the quarter, it said.

"Having enjoyed a period of supportive macroeconomic development, judging by various leading indicators, it seems that we might be entering a softer demand environment," said Chief Executive Johan Forssell.

"It is therefore critical that our companies are agile and flexible to successfully handle different demand situations, while maintaining focus on attractive long-term opportunities."

Investor is the investment vehicle of Sweden's prominent Wallenberg family and owns stakes in some of the country's largest companies, including industrial-equipment maker Atlas Copco AB (ATCO-A.SK) and lender Skandinaviska Enskilda Banken AB (SEB-A.SK).

-Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter: @domchopping @WSJNordics

(END) Dow Jones Newswires

October 17, 2018 02:48 ET (06:48 GMT)

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