July 25, 2012 / 5:52 AM / 5 years ago

Nexans forecasts sales, margin growth

PARIS, July 25 (Reuters) - French cable maker Nexans forecast a significant rise in its operating margin in the second half and a slight increase in full-year organic sales on Wednesday, boosted by improvements at its transmission business.

First-half sales rose to 3.58 billion euros ($4.32 billion)from 3.53 billion a year earlier, Nexans said. The operating margin fell to 3.6 percent at constant non-ferrous metal prices from 5.1 percent a year ago.

“After a first quarter marked by significant production difficulties for submarine high voltage cables, the situation improved markedly in the second quarter with a gradual return to normal production status,” Chief Executive Frederic Vincent said in a statement.

“In a European environment that remains uncertain, the group expects a slight organic growth in sales for the year,” he added.

$1 = 0.8275 euros Reporting by James Regan; Editing by Mark Potter

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