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Business

Lower Profits for Lamp Manufacturer Osram

Despite a decline in profits, Osram, the world's second-largest lamp producer reckons on a slight increase in turnover in all fields in 2003. The Siemens subsidiary, based in Munich, recorded earnings of 365 million euros before taxes and interest payments over the 2001/2002 business year, Osram manager Wolf-Dieter Bopst announced on Tuesday. The previous year Osram made a 462 million euros profit.