Denmark's NKT Cables makes gains on top and bottom lines

Cable manufacturer NKT Cables grew during an eventful quarter ahead of the company's intention to split NKT A/S into two listed entities.

Danish cable manufacturer NKT Cables saw increases in the first three months of the year. Revenue in the cable division grew 13.4 percent to EUR 185.2 million, relative to the same period last year, while operational EBITDA rose from EUR 27.2 million to EUR 35.1 million, shows the company's Q1 report Wednesday.

"Q1 2017 was eventful with completion of the acquisition of ABB HV Cables to create one of the leading high-voltage power cables companies in the world. We were satisfied with the first months of ownership and the integration process is on track. The Q1 2017 financial development of NKT was as expected, with a satisfactory increase in revenue and operational EBITDA," says CEO Michael Hedegaard Lyng about the report.

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