Sunday, July 22, 2018

Philips Q2 Net Profit Down, Comparable Sales Up; Backs 2017-2020 View

Philips Electronics NV reported Monday a sharp drop in second-quarter profit on loss from discontinued operations. On a continuing operations basis, profit climbed with higher margin, even as sales were nearly flat. Comparable sales and orders increased driven by growth and productivity programs. The company reiterated 2017-2020 view of 4-6 percent comparable sales growth.

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