ZURICH : Siemens shares surged on Thursday after the engineering company upped its full year sales and profit guidance and said it had made a 'flying start' to its new business year.The trains-to-industrial-software group's stock was 7.1 per cent higher in early trading, hitting its highest level since Ja
ZURICH : Siemens shares surged on Thursday after the engineering company upped its full year sales and profit guidance and said it had made a"flying start" to its new business year.
Siemens reported better-than-expected quarterly profit at its industrial business late on Wednesday and raised its full-year sales and profit guidance. Supply chain bottlenecks are easing, Chief Executive Roland Busch told reporters on Thursday, and the company's"clear goal" was to shorten delivery times.
"After our flying start to fiscal 2023, we will further leverage our exceptional order backlog and execution strength. This gives a high confidence level despite a volatile environment," Busch said.Busch said many countries had launched investment programmes in areas such as semiconductors, or to combat climate change with green technologies.
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