Siemens: raises FY forecasts further

(CercleFinance.com) - Siemens has again raised its FY earnings estimates after a "solid" performance in the last quarter, driven by the global economic recovery.


The German group now expects FY LFL sales growth of 11% to 12%, compared with a previous forecast range of 9% to 11%.

Siemens has also raised its FY earnings forecast to 6.1 to 6.4 billion euros, up from a previous range of 5.7 to 6.2 billion euros.

In the April-June quarter (its Q3), the industrial conglomerate announced net profit of 1.5 billion euros, almost triple the level a year ago (535 million euros a year ago).

The share is up almost 4% in early trading on Thursday.


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