SIEMENS ANNOUNCES 5% INCREASE IN NET PROFITS TO JUNE.

On July 16, the German electronics giant Siemens announced a 5% increase in net profits for the first nine months of the 1997/98 financial year (October to September) to DM1.783 billion. Turnover is up 15% on the previous year to DM81.9 billion. Siemens Chairman Heinrich von Pierer is however less than satisfied since the group's initial target for 97/98, an increase in net profits greater than that of turnover - 8% according to a...