German industrial giant Siemens reported growth in sales and profit at its Siemens Healthcare division this week, but said that the healthcare market's outlook remains poor.
For the period (end-March 31), revenue in the healthcare unit grew to 2.984 billion euros ($3.952 billion), up 10% on an actual basis and up 4% after adjusting for currency changes, compared with sales of 2.722 billion euros ($3.605 billion) in the same period the year before. Orders grew 6% in the period.
The division's sector profit rose 4% to 355 million euros ($470.2 million), compared with 341 million euros ($451.7 million) in the second quarter of 2008. The company said that its Imaging and IT division was a top earnings performer, with second-quarter profit rising to 265 million euros ($351.2 million).
In reporting the results, Siemens said that tight credit continues to constrain market growth, especially in the U.S. and Japan. Growth in Australia, Asia outside Japan, Europe, and the Middle East offset the weakness. Siemens said that the division "expects continued deterioration in market conditions" in the healthcare industry.
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