 Marconi has warned of tough times ahead |
UK telecoms equipment maker Marconi has warned of more tough times ahead, as it posted a rise in sales. The group said trading conditions remained challenging and it was keeping a "cautious view on potential volatility" in its markets.
The announcement came as the group reported sales in the three months to September had risen 6% to �389m ($649.6m) from the previous three months.
Marconi said strong sales in the US, in particular to the government, had helped boost the figures.
'Cautious'
However, sales had slipped from the �514m the company recorded in the same period last year.
Chief executive Mike Parton said: "Whilst we remain cautious about the shorter term outlook, we are confident for the company's and industry's long term prospects."
The company has recently emerged from a massive �4bn restructuring drive, shedding thousands of jobs and selling off units.
It was forced to take drastic action after it borrowed heavily to fund an acquisition spree just as the telecoms boom was coming to an end.
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