Philips: posts mixed results, shares drop

(CercleFinance.com) - Dutch healthcare technology company Philips reported a higher operating profit for the second quarter on Monday but also said that sales slightly fell, which sent its shares down.


Philips' net income from continuing operations rose to 186 million euros, from 161 million euros in the same period a year ago.

While comparable sales rose 4 per cent, total sales fell to below 4.29 billion euros in the past quarter, from over 4.29 billion euros in the second quarter of 2017.

However, margins improved at all its divisions: diagnosis & treatment, connected care & health informatics and personal health.

Looking ahead, Philips reiterated its targets for the 2017-2020 period of 4-6% comparable sales growth and an average annual 100 basis points improvement in adjusted EBITA margin.

After these mixed results, Philips' shares fell 3% to 35.6 euros.

Copyright (c) 2018 CercleFinance.com. All rights reserved.