Philips' earnings double as it switches off TV arm
Tuesday 23 October 2012
Related articles
Royal Philips Electronics, the Dutch maker of electric shavers, light bulbs and medical imaging equipment, saw earnings more than double in the third quarter.
This was thanks to modest growth at all its business lines as well as the disposal of its loss-making television business.
Profit rose to €169m (£137m) from €74m in the same period a year ago, when Philips booked a €54 million loss on televisions. Sales rose 3.4 per cent to €6.13bn.
Despite the upbeat trading performance, Philips chief executive Frans van Houten said the company is facing stiff "headwinds".
Its biggest market Europe is in decline, China is growing more slowly and the United States market is showing "more and more uncertainty related to elections and the so-called fiscal cliff".
-
Notes from a small island: Is Sealand an independent 'micronation' or an illegal fortress?
-
You thought Ryanair's attendants had it bad? Wait 'til you hear about their pilots
-
World news in pictures
-
David Cameron goes to war with newspapers over 'swivel-eyed loons' slur
-
Revealed: Eerie new images show forgotten French apartment that was abandoned at the outbreak of World War II and left untouched for 70 years
- 1 Heading for America? Prepare for the longest US immigration queues ever
- 2 Notes from a small island: Is Sealand an independent 'micronation' or an illegal fortress?
- 3 You thought Ryanair's attendants had it bad? Wait 'til you hear about their pilots
- 4 David Cameron goes to war with newspapers over 'swivel-eyed loons' slur
- 5 It’s official: thanks to Stephen Hawking's Israel boycott, anti-Semitism is no more
Get your summer started with British Military Fitness
BMF is the UK’s biggest and best loved outdoor fitness classes
Visit York
Find out what The Independent's resident travel expert has to say about one of the most beautiful small cities in the world
Enter the latest Independent competitions
Win anything from gadgets to five-star holidays on our competitions and offers page.
Business videos from commercial thought leaders
Watch the best in the business world give their insights into the world of business.
iJobs Money & Business
Fidessa Analyst / PM - Banking - London - £600pd
£550 - £600 per day: Orgtel: Fidessa Analyst / PM - Banking - London - Up to £...
Sourcing Manager - Banking - London - £500pd
£450 - £500 per day: Orgtel: Sourcing Manager - Banking - London - Up to £500p...
School Finance Assistant (part-time, term-time only)
To be discussed at interview.: Queen Elizabeth's School: An experienced and ef...
Java Developer - Munich OR Milian
£294.05 - £330.92 per day + 150 per day travel and accommodation: Orgtel: A le...
Day In a Page
The price of pacifism
Jason Isaacs: Groupies, theatre bores and James Bond
Sealand: 'Micronation' or illegal fortress?
Legend of James Hunt has set Hollywood hearts racing
Macklemore: 'I don't have moderation'
Don't be shy: Bill Granger's Sri Lankan recipes
Gordon Ramsay's worst nightmare: A restaurant he cannot save



Comments