Siemens promised doubledigit growth in sales and higher margins on the back of solid first-quarter numbers yesterday, despite an uncertain outlook for mobile handsets and semiconductors.
The German electronics and engineering giant, which employs 887 people in Ireland, posted a 14 per cent rise in firstquarter operating profits, as strong performance at its traditional industrial units in the three months to December 31st made up for a weaker quarter from the formerly fast-growing semiconductors and communications units.
"Despite the challenges being faced by individual groups, we are again aiming for a considerable increase in earnings," chief executive Mr Heinrich von Pierer said in a statement.
"The key figures for the first quarter show we are on the right track."
Siemens shares, which have climbed about 10 per cent since the start of the year, were up a further 3.5 per cent at €156.66 in Frankfurt, helping fuel a broad tech rally.
"Siemens' figures look pretty good. We have this double-digit earnings and sales growth for 2001," said Mr Ernst Konrad, fund manager at Activest.
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