Finnish cable equipment supplier Teleste says it sees an improvement in the market, after third quarter profits grew by 23.4% to €2 million, despite an 18% fall in orders.
CEO Jukka Rinnevaara, who has consistently given an open appraisal of market conditions during the down turn said the €16 million frame agreement to upgrade HOT Telecom’s Israeli cable network over the next four years provided “a tangible positive sign of the gradual recovery in the market”.
Predicting a pick up in the German market, where unit prices have fallen over the past 12 months, Rinnevaara nevertheless remained cautious. “The generally difficult financial situation in Europe and the ownership arrangements among the cable operators are likely to continue and these may have an effect on the timing of investments,” he said.
In August Teleste acquired Satlan, strengthening its position in the supply of IP video and broadband solutions to Polish cable operators and media service providers.