MUNICH Nov 12 German lighting maker Osram Licht
AG said it expects its net income to improve sharply
in its current fiscal year after it slashed jobs and costs to
return to profit.
In the fourth quarter to September, its net loss narrowed to
29 million euros ($38.9 million) from 119 million in the year
earlier period, the company, which was spun off from engineering
group Siemens earlier this year, said on Tuesday.
It also said it now sees gross savings from its
restructuring programme reaching 1.2 billion euros, compared
with a previous target of 1 billion.
($1 = 0.7459 euros)
(Reporting by Maria Sheahan; Editing by Jonathan Gould)