Siemens reports leap in profits in 2016/17 financial year

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A man sits below the Siemens logo at the 2017 Web Summit in Lisbon on November 7, 2017./ AFP /

FRANKFURT, Germany (AFP) – German industrial behemoth Siemens reported a leap in profits in its 2016/17 financial year, meeting its own forecasts as the group continues a long-term restructuring.

Net profits at the group, whose products range from wind turbines to trains to medical equipment, grew to 6.0 billion euros ($7 billion), up 11 percent compared with the previous year. (Agence France-Presse)