Philips Q2 net profit up on higher consumer, lighting margins

Philips, the lighting, consumer and healthcare products company, said on Monday its second-quarter net profit rose to 274 million euros ($301.6 million) on sales growth at its healthcare unit and margin improvements at its consumer and lighting businesses. 

The company said net profit rose 12.8 per cent to 274 million euros in the second quarter from 243 million euros in the same period a year earlier Stock Market Trading Tips

That was above the average of 107 million euros in a Reuters poll, with individual estimates of nine analysts ranging from 55 million euros to 142 million. 

Margin improvements at Philips' healthcare business were largely offset by the strong dollar and investments, while operating margins at its consumer and lighting businesses improved as a result of restructuring measures Sensex Astrology

Chief Executive Frans van Houten said in a statement he was encouraged by Philips' improvements but added that he was increasingly concerned about the global macro-economic environment "particularly in China, Russia and Latin America Himanshu Tiwari Astrologer
Still, the maker of consumer goods like shavers, toothbrushes and coffee makers as well as healthcare equipment such as CT scanners and patient monitoring systems, expects modest sales growth this year and "continued operational performance improvement in 2016." 

Philips is planning to sell its lighting division, the world's largest lighting maker, via a sale or a stock market flotation Personal Numerology

The company said on Monday that it estimates the cost for this process to be 200-300 million euros this year, lower than the 300-400 million its expected previously. 

It said it expects to book another 200-300 million euros, including restructuring costs, next year.