Philips net profit declined by 8% in the third quarter

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Royal Philips of the Netherlands reduced its third-quarter net profit by 8% to 291 million euros. Its dynamics were negatively affected by expenses caused by the lighting equipment manufacturing division of Philips Lighting. At the same time, the adjusted profit showed an increase of 7% to 568 million euros in the last quarter, while experts had predicted 584 million euros. Revenues amounted to 4 billion 310 million euros, an increase of 4% over the quarter. Comparable sales generally rose 4%. The figure in Latin America grew by 10%, in Western Europe and North America – by 2%.

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