IBM Deutschland GmbH, which likes to keep everyone waiting as long as possible before revealing its profits, has finally come out with the figures, saying that 1989 net profit rose 17% to $444m; as reported some two months ago (CI No 1,351), turnover rose 9% to $7,286m at the current rate of exchange ($0.588 to the Deutschmark) with domestic sales rising 14% to $4,934m while exports fell marginally to $2,352m – IBM subsidiaries never reveal the level of what have to be very substantial imports, mainly from their regional siblings. The company’s rental and leasing business soared 36% to $500m; capital investment rose 12% to $817m. The company is cautious about its prospects, saying that while the current year had started on plan, predictions are getting harder and harder to make.
