Siemens confident even as big orders fall

German industrial conglomerate Siemens confirmed its full-year forecast Thursday, after a third quarter that saw revenues and profits increase even as large orders fell.

The group reported a 7.0-percent increase in net profit to almost 1.5 billion euros ($1.8 billion) in the third quarter of its financial year between April and June, beating analysts' forecasts of around 1.3 billion.

Revenues at Siemens, whose products range from wind turbines to trains to medical equipment, grew some 8.0 percent to reach 21.4 billion euros.

But the group reported a 6.0-percent fall in overall orders, mainly driven by fewer large contracts for its power and gas and wind power units.