Despite steady turnover, profits for 2003 were half of those of the year before

Despite steady turnover, profits for 2003 were half of those of the year before

The business held its turnover steady at $5.25bn (E4.24bn), unchanged from the 2002 figure. But profits amounted to just $422m (E341m), compared with $843m (E681m) for the previous year. Fourth-quarter figures showed a slight rise in both sales and profits over the 2002 levels.

Overall GE’s 2003 $15.6bn (E12.6bn) profit marked record levels last year, with eight of the 13 business sectors delivering double-digit earnings growth. Since the beginning of this year the group has been reorganised; GE Plastics is now included in GE Advanced Materials.