Siemens speeds cost-cutting, beats Q2 profit forecasts
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[FRANKFURT] German industrial group Siemens beat expectations for second-quarter profit as it accelerated a cost-cutting programme and lifted its savings target for the year on Wednesday.
Siemens said it now expected savings of 850 to 950 million euros (S$1.32 billion to S$1.48 billion) for its financial year to end-September, versus its previous target of 800 to 900 million.
The Munich-based trains-to-turbines group reiterated its full-year targets of an industrial profit margin of 10-11 per cent and earnings per share of 6.00 to 6.40 euros.
REUTERS
Share with us your feedback on BT's products and services
TRENDING NOW
Singaporeans can now buy record amount of yen per Singdollar
Beijing’s calculated silence on the Iran war
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
StarHub hands Ensign InfoSecurity control back to Temasek in S$115 million deal, books S$200 million gain
