Siemens to book huge charge on healthcare unit

22nd September 2010, Comments 0 comments

German industrial giant Siemens has said it will book a charge of up to 1.4 billion euros (1.86 billion dollars) on its healthcare diagnostics division after a review of its prospects.

"This impairment is being made in connection with a re-evaluation of medium-term growth prospects and long-term market developments in the laboratory diagnostics business," a statement said late Tuesday.

The charge, which will be taken in Siemens' fourth quarter that runs from July through September, will not prevent the group from hitting annual targets, it said.

For its year to September 2010, Siemens has forecast a fall in sales but an operating profit in its three main sectors -- energy, industry and medical -- of more than the 7.47 billion euros reported for the prior year.

© 2010 AFP

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