STOCKHOLM, Sweden, Oct. 11, 2005 (PRIMEZONE) -- Avanza:
-- Operating income increased by SEK 29.5% (50.5%) to SEK 201.5
million (SEK 155.6 m).
-- The profit after tax was SEK 73.5 million (SEK 56.6 m).
-- Earnings per share totalled SEK 2.70 (SEK 2.13).
-- Net deposits totalled SEK 3,600 million (SEK 2,100 m),
corresponding to 22.2% (19.1%) of the total value of custodian
accounts at the beginning of the year.
Comments from the Managing Director, "Avanza took its first steps into the pension market during the summer, and it is apparent that there is considerable demand for Avanza's offering, with its simple products and low charges -- within a couple of months of its launch, Avanza's capital pension product had attracted over SEK 300 million in capital. Overall, Avanza's pension and insurance products amount to more than SEK 1,200 million at the moment, and the next few months will see us continue our development with the launch of private pension and occupational pension insurance products."
"It's also clear that more and more people are combining their share, mutual fund, and pension savings under the Avanza umbrella, and we will be focusing even harder on sales and marketing during the fourth quarter, with the aim of supporting this trend. It is our belief that Avanza will report a substantial growth in profits for 2005," says Nicklas Storakers, Managing Director of Avanza.
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