Profit and sales of Philips rise in first quarter

Tuesday, April 24, 2012

EINDHOVEN – The net profit and turnover of Philips in the first quarter of this year are better than analysts had predicted.

Both the profit and revenue rose.After a very difficult end of 2011, Philips started relatively well this year, as the Eindhoven electronics company made known.The profit figure was boosted by several one-time revenues, including through the sale of the Senseo brand rights and the sale of the High Tech Campus in Eindhoven. Also, the loss of the television branch of the company decreased.In particular the health division of Philips did well in the first quarter. The Healthcare division is located in Best. Especially in the United States, thanks to an improving economy, more was spent at Philips.Van Houten announced a reorganization last fall. Up to 2014, 4500 jobs will disappear at Philips, of which 1400 in the Netherlands.Source: Omroep Brabant


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