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Investor AB reports higher quarterly profit, sales

Swedish private equity and venture capital firm Investor AB said profit attributable to owners of the company came in at 25.61 billion Swedish kronor, or 33.44 kronor per share, in the third quarter, up from 5.38 billion kronor, or 7.02 kronor per share, in the year-ago period.

Net sales increased to 11.02 billion kronor from 8.30 billion kronor last year. Operating profit totaled 25.66 billion kronor for the quarter, up from 5.86 billion kronor.

The company said its net asset value increased by 7% during the quarter to 372.37 billion kronor.

As of Oct. 16, US$1 was equivalent to 8.89 Swedish kronor.