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General Electric Co posted a 12 percent rise in overall industrial profits on Thursday, as strength in its businesses selling gas turbines, jet engines and oil industry equipment offset weakness in healthcare and transportation. "The big story is the organic revenue growth," said Tim Ghriskey, chief investment officer of Solaris Asset Management, which owns GE shares. "It really shows the return to an industrial emphasis is paying off, and where the company is focusing." The results underscored GE Chief Executive Officer Jeff Immelt's strategy to focus the company even more on manufacturing of large industrial products as he reduces the company's dependence on its GE Capital finance unit. Immelt is also seeking to improve profit margins and slash administrative costs at the 307,000-employee company.
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