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Prysmian sees 2016 core profits at 670-720 million euros after good first question

Reuters

MILAN (Reuters) - Italy's Prysmian, the world's biggest cable maker, sees adjusted core earnings reaching 670 (464 million pounds) -720 million euros this year, after rising 25 percent in the first quarter.

The group said on Tuesday adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) rose in the quarter to 150 million euros ($171 million), slightly above market expectations of 143 million euros.

Shares in the group turned positive after results and were up 0.9 percent at 1332 GMT.

(Reporting by Francesca Landini and Massimo Gaia)