Philips Says 2Q Net Profit Fell On Charges from Discontinued Operations
23 Julio 2018 - 12:56AM
Noticias Dow Jones
By Carlo Martuscelli
Koninklijke Philips NV (PHIA.AE) said Monday that net profit
fell in the second quarter as it booked a charge from discontinued
operations, while sales stayed flat.
The Dutch technology company didn't report any net profit in the
second quarter, compared with a profit of 250 million euros ($293
million) a year earlier. Sales were unchanged at EUR4.29
billion.
Philips said it booked a charge of EUR184 million from
discontinued operations--mainly related to a loss Philips made on
its stake in Signify NV (LIGHT.AE), formerly known as Philips
Lighting.
The company said net profit from continuing operations was
EUR186 million, up from EUR161 million. Its comparable order intake
rose 9% on the year-before, it said.
Chief Executive Frans van Houten said the diagnosis and
treatment business was a strong-performer, reporting 8% comparable
sales growth.
"After a slow start, the personal health businesses gained
momentum in the quarter, and we expect this to continue in the
second half of the year," he said.
The company reiterated its targets for the 2017-2020 period of
between 4% to 6% comparable sales growth, as well as an average
annual improvement in its adjusted Ebita margin of 100 basis
points.
Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com
(END) Dow Jones Newswires
July 23, 2018 01:41 ET (05:41 GMT)
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