Siemens says Q1 profit gains 15 per cent

January 25, 2011 | 15:45

(0) user say

The German industrial group Siemens roared into its 2010/2011 fiscal year with a first-quarter net profit that gained 15 per cent to 1.75 billion euros ($2.39 billion), the company said Tuesday.

Siemens also posted an annualised six per cent 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 and 35 per cent.

In its first quarter, the German group reported 19.5 billion euros in sales, a gain of 12 per cent 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 per cent more than in the first quarter of its previous fiscal year.

AFP

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional