Connect with us

Hi, what are you looking for?


Siemens says Q1 profit gains 15 percent

FRANKFURT, Jan 25, 2011 – The German industrial group Siemens roared into its 2010/2011 fiscal year with a first-quarter net profit that gained 15 percent to 1.75 billion euros ($2.39 billion), the company said Tuesday.

Siemens also posted an annualised six percent 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 percent.

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

Click to comment

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...


NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...


NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...


NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...


NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...