Monday, July 25, 2016

Philips Q2 Net Profit Soars; Backs FY16 Outlook

Dutch consumer electronics giant Philips Electronics NV reported Monday significantly higher profit in its second quarter, mainly with Funai arbitration award, despite weak sales. Comparable sales growth was 3 percent with improved HealthTech portfolio, despite weakness in Lighting. The company also maintained its outlook for fiscal 2016.

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