By Julian Goldsmith, 16 July 1998 15:57
NEWS Telecoms equipment specialist Siemens AG has sent out a staggering profit warning today of DM1bn (£0.35bn). A loss on its Q3 results was expected, but analysts were caught out by the severity of the amount. The company blamed the slump in the memory chip market for the loss. Chief financial officer at Siemens, Heinz-Joachim Neubuerger, said the company would restructure and there was a possibility that some units would be floated.
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