CEO of NKT Cables promises a more stable business
As of yet, there is no certainty as to how great the damage will be at Denmark's NKT Cables in the aftermath of loss-inducing business in China, but the divestment of this division will bring fewer fluctuations and more strength to the European market.
Danish cable business NKT delivered a third quarter interim report with signs pointing in different directions. While guidance for the cable company's organic growth in 2016 was downgraded from a negative 5 percent to a negative range of 5-10 percent, faith in the bottom line got a small boost from 9 percent to 9.3 percent in EBITDA.
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