Patrik Stollarz, Getty Images
Industryweek 9183 072715financialphilipsdelta

FINANCIAL REPORT: Philips Profits Jump 12% for Second Quarter

July 27, 2015
Dutch electronics company's sales jump 20% compared with the same 2014 period. ... Delta purchases small stake in Chinese airline.

THE HAGUE, Netherlands — Rising sales of medical equipment helped drive a 12% increase in second-quarter net profit at Dutch electronics manufacturer Philips, the company said Monday.

The net profit attributable to shareholders of 272 million euros ($301.69 million) was accompanied by a 20% jump in sales to 5.97 billion euros ($6.62 billion) compared with the same period a year earlier.

The operating profit of 501 million euros ($555.69 million) as measured by earnings before interest, tax and amortisation (EBITA) beat the average of 415 million euros ($460.31 million) forecast by analysts surveyed by Bloomberg.

While overall sales rose by 3% on a comparable basis, sales of medical equipment climbed by 8%. CEO Frans Van Houten said he was pleased with the company’s performance, but added “we are increasingly concerned about the global macro-economic environment, particularly in China, Russia and Latin America.”

DELTA: NEW YORK — Delta Air Lines will buy a stake in China Eastern Airlines as the two carriers strengthen their partnership serving the United States and China, the companies announced Monday.

Under a preliminary agreement, Delta will invest $450 million to acquire a 3.55% stake in China Eastern and will be given an observer seat on the Shanghai-based airline’s board of directors. The agreement depends on reaching a final marketing deal and approval by each carrier’s board.

Copyright Agence France-Presse, 2015

Popular Sponsored Recommendations

Shifting Your Business from Products to Service-Based Business Models: Generating Predictable Revenues

Oct. 27, 2023
Executive summary on a recent IndustryWeek-hosted webinar sponsored by SAP

Guide to Turning Product Data into Profitable Content and Experiences

Sept. 11, 2023
Businesses can lose up to 9.5% of their annual revenue due to bad digital experiences. This guide highlights the need for enriched product content to deliver profitable content...

The Benefits of Continuous Thermal Monitoring

Oct. 17, 2023
Read this eBook to learn more about collecting and using data intelligently to improve performance.

Legacy Phone Lines Are Draining Your Profits

Oct. 30, 2023
Copper wire phone line expenses that support emergency devices could be costing your company millions of dollars in wasteful overhead expenses. Rates have been skyrocketing while...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!