Print Edition - 2017-10-24  |  Money Digest

Philips net profit up 10pc in Q3

- AFP, THE HAGUE

Oct 24, 2017-

Dutch electronics giant Philips, which is focusing its business on medical equipment and services, said on Monday that its profit margin and net earnings both rose in the third quarter as it cut costs and stepped up sales. Net profit jumped 10 percent to 423 million euros ($498 million) for the period from July through September. Meanwhile sales climbed by four percent from the previous quarter to 4.1 billion euros, while orders rose by five percent. “Despite ongoing global uncertainties, our outlook for 2017 remains unchanged,” said chief executive Frans van Houten in a statement, adding that “we are on track to deliver four-six percent comparable sales growth and an improvement” by one percent in its measure of operating profit margin.

Published: 24-10-2017 08:46

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