Philips Lighting: shares fall despite renewed growth.
(CercleFinance.com) - Philips Lighting shares are down over 6% on Thursday, despite the Dutch lighting maker returning to comparable sales growth in Q3, while improving profitability.
The Eindhoven-based firm said sales reached 1,684 million euros in Q3, with a 1.3% increase in comparable sales.
Net income was 110 million, compared to 51 million euros in Q3 2016.
The group also said it was on track to improve its adjusted EBITA margin by 50-100 basis points over the full year.
Philips Lighting shares are currently down 6% at 31.6 euros on Euronext Amsterdam.
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The Eindhoven-based firm said sales reached 1,684 million euros in Q3, with a 1.3% increase in comparable sales.
Net income was 110 million, compared to 51 million euros in Q3 2016.
The group also said it was on track to improve its adjusted EBITA margin by 50-100 basis points over the full year.
Philips Lighting shares are currently down 6% at 31.6 euros on Euronext Amsterdam.
Copyright (c) 2017 CercleFinance.com. All rights reserved.