Siemens's Profit Gains 15% in Q1

For the entire fiscal year, Siemens forecast profits to jump by between 25%-35%.

Industrial group Siemens roared into its 2010/2011 fiscal year with a first-quarter net profit that gained 15% to 1.75 billion euros (US$2.39 billion), the company said on Jan. 25.

Siemens also posted an annualized 6% increase in its main sector's operating profit, the group benchmark, to 2.23 billion euros for the three month period that began October 1.

That figure covers the company's three biggest divisions of industry, energy and medical technology.

For the entire fiscal year, Siemens forecast it would jump by between 25% - 35%.

In its first quarter, the German group reported 19.5 billion euros in sales, a gain of 12% that exceeded an analyst forecast compiled by Dow Jones Newswires of 18.93 billion euros.

Siemens' orders amounted to 22.6 billion euros meanwhile, 19% more than in the first quarter of its previous fiscal year.

Copyright Agence France-Presse, 2011

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