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

Reuters

MILAN (Reuters) - Italy's Prysmian (PRY.MI), the world's biggest cable maker, sees adjusted core earnings reaching 670-720 million euros (£530 million - £569 million) 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, slightly above market expectations of 143 million euros.

Shares in the group turned positive after results and were up 0.9 percent at 1432 London time.

(The online version of the story was refiled to edit the headline to say first-quarter instead of first question)

(Reporting by Francesca Landini and Massimo Gaia)