Upbeat Buffett eyes big acquisitions after record Berkshire profit
Published on Mar 1, 2014 10:44 PM
NEW YORK (REUTERS) - Warren Buffett's Berkshire Hathaway Inc on Saturday signaled he plans to make more large acquisitions to expand a conglomerate that posted a record profit in 2013, helped by a recovering US economy.
"Charlie and I have always considered a 'bet' on ever-rising US prosperity to be a very close to a sure thing," Buffett, 83, said in his annual letter, referring to his 90-year-old vice chairman Charlie Munger.
"America's best days lie ahead."
Full-year profit rose 31 per cent to US$19.48 billion (S$24.67 billion), or $11,850 per Class A share, while operating profit rose 20 per cent to $15.14 billion, or $9,211 per share.
To continue reading, log in if you are a subscriber
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!