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Philips will probably produce more locally to counterbalance global trade tensions. For example, by manufacturing products in China itself, the health technology group circumvents high commercial rates
CEO Frans van Houten explained the quarterly figures in an explanation.
Philips suffered many adverse currency effects in the third quarter. The company continued to increase its revenues. But the turnover has not increased as much as predicted by analysts.
Growth was solid, particularly in the area of diagnosis and treatment. On the other hand, the Connected Care & Health Informatics segment recorded a slight contraction compared to the very strong third quarter of last year.
Sales of the personal supplies division have resumed, but Van Houten notes that he actually works here. a more powerful recovery had counted. Philips had reported new headwinds in China earlier this year due to declining demand for air purification systems and inventory problems.
The total business figure stood at 4.3 billion euros, compared with 4.1 billion a year ago. Adjusted operating profit increased from 532 million euros to 568 million euros.
Philips held 292 million euros and posted a net profit of 423 million euros in the third quarter of 2017. This decrease is due to the reduction in interest earned at the end of the year. former Signify lighting division.
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