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Sales rise lifts profit at Siemens
Source: Agencies |
November 11, 2011, Friday
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Print Edition
Print Edition
GERMAN industrial equipment maker Siemens AG says it made a net profit of 1.23 billion euros (US$1.66 billion) in its most recent quarter as sales increased in Asia.
That represents a rebound from a net loss of 396 million euros in the same quarter a year ago, when the company had a large one-time charge at its health care division.
Revenues rose 5 percent to 20.35 billion euros, boosted by a 12 percent increase in Asia. The company said yesterday sales grew across all regions and saw particularly strong growth in emerging markets.
Orders, however, declined 2 percent and the company forecast "moderate" sales growth.
The company raised its dividend to 3.00 euros per share from 2.70 euros per share last year.
Across Siemens' divisions, its fossil-fuel power generation unit raised earnings by 10 percent to 407 billion euros.
That represents a rebound from a net loss of 396 million euros in the same quarter a year ago, when the company had a large one-time charge at its health care division.
Revenues rose 5 percent to 20.35 billion euros, boosted by a 12 percent increase in Asia. The company said yesterday sales grew across all regions and saw particularly strong growth in emerging markets.
Orders, however, declined 2 percent and the company forecast "moderate" sales growth.
The company raised its dividend to 3.00 euros per share from 2.70 euros per share last year.
Across Siemens' divisions, its fossil-fuel power generation unit raised earnings by 10 percent to 407 billion euros.
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