Signify expects worse operating results due to corona measures

Signify expects worse operating results
Photo Credit: Studio040

Signify, the former lighting sector of Philips has revealed in an outlook for its final quarter of 2022 figures that operating results are likely to be disappointing.

In particular, sales made by the company in China were disappointing in the fourth quarter, Signify reported. It also sold less office lighting.

As a result, the Eindhoven-based company expects Si sales in the fourth quarter to decline about 9% from a year earlier. For the full year, Signify expects sales to increase by 1.2 %. Earlier, that number was expected to be between 2 and 3 %.

Signify informs that fourth-quarter and full-year figures for 2022 the company will be released in late January.

Source: Studio040

Translation: Chaitali Sengupta. She also gives online INBURGERING classes.

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