Strong second quarter for Dutch company Philips

Source: Xinhua | 2019-07-23

Philips recorded a rise of sales in the second quarter of 2019, the Dutch medical technology company announced on Monday.
Philips delivered Q2 sales of 4.671 billion euros (5.239 billion U.S. dollars) compared to sales of 4.288 billion euros over the same period last year. The comparable sales growth was 6 percent, 2 percent higher than in Q2 last year.
"I am pleased with the 6 percent comparable sales growth in the second quarter, with all businesses contributing," CEO Frans van Houten stated in a press release.
Net income was 246 million euros in the second quarter, compared with a meager 2 million euros in Q2 last year. Income from continuing operations increased to 260 million euros, as against 186 million in Q2 of 2018.
"We continue to expect our performance momentum to further improve in the second half of the year, supported by sales growth and our productivity programs," Van Houten said about the forthcoming half year, adding "We maintain our overall targets of 4-6 percent comparable sales growth." (one euro currently equals to 1.12 U.S. dollars)