Siemens profit up 63 percent for 2010

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The German industrial group Siemens on Thursday reported net profit of 4.368 billion euros (5.612 billion dollars) for the year to September 30, up 63 percent on the previous year.

The company said in a statement that it would pay a dividend of 2.70 euros, up from 1.60 euros in 2009 and bettering analysts forecasts of 1.85 euro.

Siemens forecast a 25 to 35 percent operating profit in its core businesses for 2011.

The operating profit from core energy, industrial and medical equipment sectors stood at 7.789 billion dollars for 2010, up four percent on the previous year.

Sales for the year stood at 75.978 billion euros, down one percent, while orders rose three percent to 81.163 billion euros.

Siemens said it had performed best in the renewable energy sector, and its operations in developing countries which account for one third of its turnover.

© 2010 AFP

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