Share sale boosts Philips Q1 profits

Philips booked net profit of €875m in the first three months of this year, compared with €160m in the same 2006 period, boosted by an extraordinary gain from the sale of shares in TSMC.

Group sales rose 3% to €5.99bn. Earnings were higher than analysts had expected, news wires said.
Turnover in the consumer electronics division fell 6% to €2.21bn as the price of flat-screen televisions fell sharply. But operating profit was up by €1m at €34m, when analysts had forecast a fall of €1m.
The domestic appliance unit more than doubled operating profit to €107m. Analysts had forecast Q1 operating profit of €69m.

Thank you for donating to

We could not provide the Dutch News service, and keep it free of charge, without the generous support of our readers. Your donations allow us to report on issues you tell us matter, and provide you with a summary of the most important Dutch news each day.

Make a donation