Philips boosts Q2 turnover and profit

philipsDutch electronics giant Philips booked net profit up 13% at €274m in the second quarter of 2015, the company said on Monday.

Turnover was up €1bn at €6bn, buoyed by currency effects and strong growth in the US, Europe and India. However, Philips said it is concerned about economic developments in China, Brazil and Russia.

‘Looking ahead, we continue to expect modest sales growth for 2015, as well as improved operational performance for the year,’ chief executive Frans van Houten said in a statement.

‘While we are concerned about the impact the more challenging global macro-economic environment is having on results, we expect continued operational performance improvement in 2016.’

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