Zeiss Group (Germany) stays in the red
This article was originally published in Clinica
The Zeiss Group (Germany) does not expect to make a profit again until fiscal 1997, when it aims to achieve a 5% return on turnover. Fiscal 1996 (ending September 30th) is forecast to result in a loss, albeit a smaller loss for the group as a whole than the DM 60 million ($43 million) figure estimated for east German subsidiary, Carl Zeiss Jena. The Jena company is not now expected to attain profitability until fiscal 1998, some years later than was originally anticipated. In an interview with Handelsblatt, Zeiss Group chairman Peter Grassmann put this down to "management deficiencies".