Philips net profit grows 18% while sales edge up
Date
10/25/2016 4:08:06 AM
(MENAFN) The Dutch firm, Philips, reported its net profit growth by 18% year-on-year to 340.7m pound, while sales edged up 1% to 5.9b euros.
The company said it was maintaining its forecasts for the full year as it expected to report a strong final quarter.
Moreover, Philips was once the largest manufacturer of lighting in the world, but in 2014, the company announced it would sell off its lighting division in the face of mounting competition in emerging markets.
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