Last year, the value of Petter Stordalen's stock market assets decreased by a staggering 262 million Norwegian kroner, equivalent to 285 million Swedish kroner, according to his company Strawberry Holdings' annual report.
The concern Strawberry Holding made a profit before tax of 322 million Norwegian kroner in 2018, a decrease of nearly half compared to the previous year when the profit before tax was 611 million kroner. This is despite an increase in turnover of around seven percent, reports dn.no.
The lower result is attributed in the annual report to unrealised losses of 262 million Norwegian kroner in the subsidiary Strawberry Capital, which invests in shares and bonds.
In 2017, Strawberry had stock assets of SEK 1.7 billion, and an unrealised profit of SEK 150 million was reported on these. A year later, the company had significantly reduced its stock market exposure. According to the annual report, at the end of 2018, Strawberry Capital had ”market-based” assets of NOK 821 million.
”It could obviously have been better, but sometimes the stock market has good years and sometimes it doesn't,” Petter Stordalen told the newspaper.
Dagens Næringsliv also reports that Strawberry Capital not only holds long positions but also managed short positions of around ten million kroner last year, which yielded a profit of 58,000 kroner.
”Strawberry Capital will continue to be active in the capital markets with a focus on Nordic stocks. We expect modest economic growth in the Nordic countries during 2019,” writes Strawberry in the annual report.
Source: di.se
