Siemens' recent business reorientation saw the German company log a 34-percent jump in bottom-line profit in its 2014/2015 fiscal year ending September, the Munich-based firm reported Thursday.

The company booked 7.4 billion euros ($7.9 billion) in net earnings for the full year, helped in no small way by the sale of its home appliances and hearing aid businesses.

In mid-2014, Siemens launched a radical restructuring campaign, reducing its divisions from 16 to just nine in a bid to focus on the most profitable segments and make the company leaner. The firm continues to produce power station and wind turbines, trains and medical technology.

Financial release is available here (ger).