Philips booked first-quarter profit of €344m, a 15% gain over the year-earlier period, the health technology company said on Monday.  Turnover rose by 5% and there was a 10% increase in new orders.

‘While there is more work to be done, 2018 started well,’ Philips CEO  Frans van Houten said in a statement. ‘Looking ahead, we reiterate our targets for the 2017–2020 period of 4-6% comparable sales growth.’

Analysts in a Reuters poll had predicted adjusted earnings before interest, taxes and amortization for Q1 of €332m, on 4.3% higher sales.

Philips has focused on medical devices and healthcare products since hiving off its lighting activities in 2016.