Philips: shares up as earnings growth announced

(CercleFinance.com) - Philips shares are up rose on Monday after the company reported higher fourth-quarter operating profit of 795 million euros, up 9% from 730 million euros the year before.


Profit from continuing operations increased to 608 million euros, from 550 million euros a year ago, giving an adjusted EBITA margin of 19%, up from 17.9% a year ago, the Dutch health technology company said.

Sales rose to six billion euros, up 7% in comparable terms, while comparable order intake also increased 7%.

The Amsterdam-based company said it plans to deliver low-single-digit comparable sales growth this year, driven by solid growth in its diagnosis and treatment and personal health businesses, with a 60-80 bp improvement in its adjusted EBITA margin.

The news sent the Dutch company's stock up 3% in early trading in Amsterdam.

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