Philips Q3 net profit beats on improvements in all sectors

Reuters

AMSTERDAM, Oct 21 (Reuters) - Philips, the Dutchhealthcare, lighting and consumer appliances group, reportedhigher-than-expected third-quarter net profit on Monday, thanksto improvements at all its businesses after two years ofcost-cuts and divestments.

Net profit nearly tripled to 281 million euros from 105million euros a year ago, while sales rose 3 percent on acomparable basis to 5.62 billion euros.

Analysts in a poll commissioned by Reuters had forecast netprofit of 209 million euros and sales of 5.741 billion euros.

"We remain committed to reaching our financial targets thisyear. However, ongoing headwinds in the global economy areexpected to continue to affect sales growth in the comingquarters," Chief Executive Frans van Houten said in a statement.

Rates

View Comments (0)