Bloomberg News

Nexans Rises Most in Four Months on Profit Margins: Paris Mover

February 09, 2012

Feb. 8 (Bloomberg) -- Nexans SA, the world’s second-largest maker of cables and wires, jumped the most in more than four months after reporting a rise in its 2011 operating profit margin and predicting further revenue growth this year.

The company’s shares rose as much as 9.9 percent in Paris trading, the biggest intraday gain since Sept. 27, 2011. They were up 7.6 percent at 10:21 p.m. at 50.43 euros.

“Despite an uncertain environment, we are approaching 2012 with confidence in the group’s capacity to grow further, should the current economic environment remain the same,” Chief Executive Officer Frederic Vincent said in a statement.

Nexans, based in Paris, said its operating margin at constant non-ferrous metal prices rose to 5.6 percent in 2011 from 4.8 percent in 2010. Like-for-like sales climbed 6.5 percent last year.

Italy’s Prysmian SpA is the world’s largest cable maker.

--Editor: Vidya Root

To contact the reporter on this story: Francois de Beaupuy in Paris at fdebeaupuy@bloomberg.net.

To contact the editor responsible for this story: Benedikt Kammel at bkammel@bloomberg.net.


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