GE expects 2015 industrials units profit to rise at least 10 percent

NEW YORK (Reuters) - General Electric Co said it expects profit from its industrial units to rise by at least 10 percent in 2015, helped by its power and water, aviation and energy management businesses.

Earnings from its industrial units are expected to be $1.10-$1.20 per share next year, the conglomerate said in a presentation on Tuesday at an investor meeting in New York. (http://invent.ge/1sAVb1H)

This was the first time in five years that GE issued specific earnings forecast.

The company is reducing its exposure to its finance business, including through its split-off of Synchrony Financial.

Chief Executive Jeff Immelt reiterated a target of increasing contribution from industrial businesses to 75 percent of overall earnings by 2016.

The units made up just over half of total profit in 2013.

General Electric forecast 2015 earnings of about $1.70-$1.80 per share, including earnings from GE Capital.

Analysts on average were expecting earnings of $1.79 per share, according to Thomson Reuters I/B/E/S.

The company's shares were up 0.6 percent at $24.74 on the New York Stock Exchange in late trading.

(Reporting by Lewis Krauskopf and Sagarika Jaisinghani; Editing by Joyjeet Das)