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Fujitsu Siemens enjoys profits hike

Fujitsu Siemens, Europe's largest remaining computer manufacturer, posted a 60% profits rise for the first half of its financial...

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Fujitsu Siemens, Europe's largest remaining computer manufacturer, posted a 60% profits rise for the first half...

of its financial year, on higher sales of laptops and servers to business customers.

Pre-tax profit in the six-month period soared 60% to €18m (£12.4m) from €11m a year earlier. Revenue grew 15% year-on-year, to €2.6bn, the company said.

The joint venture company projected sales to rise 5% by March 2005.

President and chief executive Bernd Bischoff warned that the market remains highly competitive.

In the financial year ending 31 March, Fujitsu Siemens reported its first-ever annual net profit, of €38.3m, after posting a loss of €9.6m last year and €7m the year before.

John Blau writes for IDG News Service

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