General Cable reports weaker profit in Q4 2012 that may carry forward to Q1 2013 - 0 views
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Matthew Wonnacott on 26 Feb 13Kentucky-based wire and cable manufacturer General Cable Corporation announced on 25th February an adjusted operating profit for the fourth quarter of 2012 of US$48.2M, down from US$ 75.4M in the third quarter. In an outlook for 2013 the company said they expect the first quarter of the year to be the weakest due to "specific factors in Europe and Mediterranean and ROW" although the company said it expects "sequentially better results in nearly all North American businesses." In 2013, the company expects a stronger performance from wire and cable used in the construction and utilities sectors in the US and the Rest of the World ex Europe. The company does not expect any improvement in its wirerod business in the US, but anticipates some pickup in wirerod sales in the Rest of the World ex Europe. The company highlighted in its report continuing weakness in Europe, but expects some improvement in 2013 with the outlook in France and the Mediterranean stabilising.