UPDATE 2-Siemens abandons 2014 profit target

Newswire

* Siemens had targeted at least 12 pct margin in 2014 * Cites lower market expectations * Says cost-cutting is largely on track * Shares drop 5.8 percent FRANKFURT, July 25 (Reuters) - Germany's Siemens AG no longer expects to meet a target for next year's profit margin, the company said on Thursday, adding to signs that Chief Executive Peter Loescher is struggling to turn the engineering group around. Germany's ...

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