Philips sees profits rise due to growth medical division

Philips has seen profits and turnover rise in the last quarter. It’s due mainly to the good performances of the electronics company’s medical division.

Profits rose by 11 per cent in the third quarter, compared to the same period the previous year, to almost 650 million euros. Turnover grew too, by 2 per cent, the company reports
The medical division did well. The company is putting all its energy into it, now that the lighting division has been floated on the stock exchange. In the long term, all shares in Philips Lighting are to be sold.

Philips is counting on further growth for the rest of the year. Expectations are high for the medical division in the fourth quarter too.

Source: Studio040
Translation: Lizzie Kean (LinkedIn)

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