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Philips: Q3 net income up 23% thanks to China.

(CercleFinance.com) - On Monday, Philips reported Q3 earnings that are up 23%, driven by growth in China, and the strength of its connected care and health informatics businesses.

The Dutch firm, which is now focused on health technology, said net income from continuing operations increased to 263 million euros in the three months to end-September, compared to 214 million euros in Q3 2016.

Philips' sales were virtually flat at 4.1 billion euros, although like-for-like sales rose by 4%.

Philips said that it is on track to deliver 4-6% like-for-like sales growth and around a 100 basis point improvement in its adjusted EBITA margin this year.

Philips shares are currently 1.1% at 35.8 euros on Euronext Amsterdam this morning.

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