Incubator co Xenia reports jump in portfolio value

Indicators point to strong investor confidence in Israel

Xenia CEO: Some of our portfolio companies have shown a sharp rise in sales, profitability and positive cash flows.

Incubator company Xenia Venture Capital Ltd. (TASE:XENA) has reported a sharp aggregate rise in the value of its portfolio. The company said that the value of its portfolio companies has jumped nearly 40% since August 2008 to NIS 315 million, giving the company a value of NIS 4.12 per share.

Xenia CEO Anat Segal said, "Some of our portfolio companies have shown a sharp rise in sales, profitability and positive cash flows. A number of companies are in a floatation stage and investors are expressing interest in investing in some of the companies."

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Some of Xenia's portfolio companies are undergoing significant development. Medical device company NeatStitch Ltd. received its first orders in the past quarter from a number of US hospitals including the Virginia Medical Center. The company has approval from the US Food and Drug Administration (FDA) and EU CE Mark.

Arcos Ltd., which develops and markets real-time conversion and broadcasting components for digital multimedia software reported sales of NIS 9 million in the first half of 2010. The company is already profitable and generates positive cash flow.

The company's share price was up 5.65% in late afternoon trading to NIS 1.85.

Published by Globes, Israel business news - www.globes-online.com - on August 30, 2010