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GE Expects Higher Profit for Consumer Products Division Dec 20, 2002 |
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General Electric Co. CEO Jeffrey Immelt highlighted the outlook for various GE divisions and operating units, and he reaffirmed many of the projections issued by the company.
According to a report from Dow Jones, Mr. Immelt's report included a projection that GE's Louisville, KY, U.S.-based GE Consumer Products division should increase its operating profit in 2003 to between U.S. $650 million and $700 million from an expected $500 million this year. Revenue for the operation, which produces GE's appliances and lighting products, could increase slightly to $8.6 billion from $8.4 billion, the report said. Overall, GE expects long-cycle operations to generate between $4.3 billion and $4.6 billion in operating profit next year, with the more economically sensitive short-cycle
businesses posting $4.6 billion to $4.9 billion, the report said. (Business First)