Kabel Deutschland Q1 core profit below expectations
FRANKFURT Aug 14 (Reuters) - Kabel Deutschland on Wednesday reported worse-than-expected core profit for its fiscal first quarter, ending June 30 as extra investments in infrastructure and marketing weighed.
The company, which is in the process of being bought by Vodafone, reported earnings before interest, taxes, depreciation and amortisation (EBITDA) of 217 million euros ($287.23 million).
That was below average analyst expectations of 226 million euros in a Reuters poll and even missed the most pessimistic estimate of 220 million euros.
Germany's biggest cable company, said it expects its 2013/14 revenue to increase by about 8 percent, while the adjusted EBITDA margin is still seen at about 48 percent.
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