Investor Third-Quarter Profit Up Sharply
October 17 2018 - 3:03AM
Dow Jones News
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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