Siemens announces fall in net profits

Industrial machinery maker Siemens saw net profit fall sharply after paying an arbitration award for leaving its nuclear joint venture with Areva SA.

Siemens announces fall in net profits
Thu, 28 Jul, 2011 - 08:41

Industrial machinery maker Siemens saw net profit fall sharply after paying an arbitration award for leaving its nuclear joint venture with Areva SA.

Earnings for the quarter that ended on June 30 fell to €501m from €1.4bn in the year-earlier period.

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CourtsBusinessHeathrowOrganisation: SiemensOrganisation: Areva SA.Organisation: Areva
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