More profit for Philips – Thanks to one-off windfall

Philips has increased its net profit in the second quarter. The last year figure was 274 million euros and this year it is 431 million euros in the same period.

This increase is mainly due to a one-time windfall of 144 million euros after Philips had won a lawsuit against the Japanese Funai.

The turnover is also higher due to the growth in Health Care Technology. This partly offsets the lower numbers at Lighting.

CEO Frans van Houten spoke to the Financieele Dagblad (Dutch financial news) of a solid second quarter. The company maintains its forecast that revenues will improve in the second half of this year. He also adds, "we are concerned about the increased risk of the volatile nature in a number of markets."

Source: Studio040
Translation: Usha Shankar

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