November 7, 2017 / 3:32 PM / in 2 years

Prysmian reports 3 pct rise in 9-mth core earnings

MILAN, Nov 7 (Reuters) - Prysmian, the world’s largest cable maker, reported on Monday a 3.3 percent rise in 9-month adjusted core earnings, amid speculation it is one of the bidders in the race to buy U.S. rival General Cable.

The Milan-based group said 9-month adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) came in at 545 million euro, exactly in line with an analyst consensus published by the company.

The cable maker confirmed a guidance of between 710 and 750 million euros for full-year core earnings, despite the negative impact of results reported by its subsidiary Oman Cable Industries and adverse currency swings.

Revenue in the period fell 1.1 percent on organic basis to 5.865 billion euros due to contraction of its energy project business. (Reporting by Francesca Landini, editing by Stephen Jewkes)

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