By Maryam Cockar

 

Koninklijke Philips NV (PHIA.AE) said Monday that third-quarter net profit fell due to costs associated with the separation of the lighting business.

For the quarter ended Sept. 30, the Dutch technology company made a profit of 291 million euros ($335 million) compared with EUR315 million a year earlier.

Revenue increased to EUR4.31 billion from EUR4.15 billion, with comparable sales growth of 4%.

Chief Executive Frans van Houten said that although there will be continuing headwinds, the group has backed its targets for 2017 to 2020 of 4% to 6% comparable sales growth and an average annual 100-basis-point improvement in adjusted Ebita margin.

 

Write to Maryam Cockar at maryam.cockar@dowjones.com

 

(END) Dow Jones Newswires

October 22, 2018 01:42 ET (05:42 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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