By Dominic Chopping
STOCKHOLM--Investor AB said Monday that its third-quarter total shareholder return was 19% compared with 8% for the same period a year ago, as many industries and geographies gradually improved, boosting the value of its investments.
Investor's net asset value per share rose to 599 Swedish kronor ($67.69) at the end of September from SEK564 at the end of June. On an adjusted basis, NAV rose to SEK702 a share.
Net profit attributable to shareholders for the third quarter was SEK27.17 billion, up from SEK20.62 billion a year earlier.
"We are not out of the woods yet," Chief Executive Johan Forssell said.
"At the moment, the spread of the pandemic is picking up speed again in a number of regions. There is also plenty of geopolitical risk and short-term, the U.S. presidential election adds uncertainty."
Investor said its companies have balanced necessary cost reductions with continuation of prioritized investments to future-proof the businesses and emerge as long-term winners.
Investor is the investment vehicle of Sweden's prominent Wallenberg family and owns stakes in some of the country's largest companies, including telecom giant Telefon AB L.M. Ericsson, home-appliance manufacturer Electrolux AB and lender Skandinaviska Enskilda Banken AB.
Write to Dominic Chopping at firstname.lastname@example.org
(END) Dow Jones Newswires