The Hague: Dutch electronics giant Philips on Monday posted a 15 per cent hike in net profits for the second quarter, just months after listing its lighting division separately on the Amsterdam bourse.
Net profit from its continuing operations leapt to €186 million (Dh683 million or $218 million) from April to June, compared to €161 million in the same period in 2017, the company reported.
Sales reached €4.3 billion, up some 4 per cent on last year, Philips said, highlighting orders had also risen by 9.0 per cent.
Best known for the manufacture of light bulbs, electrical appliances and television sets, the Amsterdam-based company has gradually pulled out of these activities in face of fierce competition from Asia.
