Philips increased revenues by 2% in 2018

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The revenue of the Dutch company, Royal Philips NV, has reached figures predicted by analysts. The company will increase its annual dividend by 6%, as well as will launch a new program to buy back shares worth 1.5 billion euros. In 2018, Philips increased revenues by 2% to 18.1 billion euros, which is slightly higher than the experts' forecast of 18.06 billion euros. The company's sales rose 5% last year. However, the company reduced profits by 41% to 1.1 billion euros. In the fourth quarter of 2018, Philips' revenue grew by 5% to 5.6 billion euros, while analysts were waiting for a figure of 5.53 billion euros. Sales rose 5% in the fourth quarter of the year. Net profit for the quarter decreased by 22% to 673 million euros. The company deconsolidated the division in the field of lighting engineering, due to which the financial indicators of the quarter decreased. Philips plans to increase sales by 4-6% annually until 2020. During recent trading, the company's shares rose in price by 0.6%.

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