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So profit growth of 6 to 8 percent is probably a better range.
But the company's long string of profit growth has come to an end.
For example, the longer a chief executive's time on the job, the lower his company's profit growth in the final two years.
His forecast for 2001 profit growth is 20 percent, he said.
Profit growth in the last few years had been brisk.
Also, profit growth has only recently begun to slow for some companies.
"Our profit growth has come back, and we expect that to continue," he said.
"In 2004, we will get the profit growth from acquisitions."
"The rate of profit growth will slow more than expected," he said.
Gone apparently is the obsession with 15 percent profit growth each year.
Big business managers believe they can keep profit growth going on forever.
The result has been the weakest profit growth in the first half since 1991.
So the company's profit growth can be expected to translate into a higher stock price.
It is much less confident that technology companies will post strong profit growth next year.
Shares fell after the company said profit growth would slow in the second half.
The profit growth of other companies' studio divisions has been far greater.
It also has an unbroken 20-year record of profits growth.
Many technology companies are expected to report year-over-year profit growth of 30 percent or more.
Still, profit growth in the second quarter has been anemic.
Some online gambling companies continue to report strong profit growth and earnings.
For the car makers, that could mean pressure to cut costs further if they are to maintain the profit growth of the last few years.
Another concern for the markets is the possibility that profit growth will slow.
Long-term profit growth rate, of course, is a major contributor to a company's stock price.
Until recently, Bayer's drug business was its main source of profit growth.
The main reason has been the company's failure to generate sustained profit growth.