Phillips reports sales growth of 10 per cent in 2Q

MUMBAI: Royal Philips Electronics has reported that sales in the second quarter were up 10 per cent year-on-year. Its net income was 301 million euros.

Sales increased strongly in the second quarter to 7,601 million euros. This represents a 10 per cent rise from the same quarter last eyar.

Adjusted for the effects of currency movements and consolidation changes, comparable sales increased by 11 per cent driven by strong growth in all operating divisions.

EBIT amounted to 367 million euros compared to 158 million euros in the same period of last year. In difficult market conditions, the EBIT of the consumer electronics division held up. Brand campaign costs were 47 million euros lower than in the same quarter for last year due to an amended seasonal spend pattern.

Financial income and expenses resulted in income of 127 million euros compared to an expense of 57 million euros in thew same quarter last year. The improvement is due to the recognition of a TSMC cash dividend of EUR 223 million, net of tax.

Cash inflow from operating activities increased to 300 million euros, compared to 52 million euros in the same quarter last year due to lower additional working capital requirements. Inventories as a percentage of sales amounted to 12.2 per cent, a decrease of 1.2 percentage points compared to Q2 2005.

Philips’ president and CEO Gerard Kleisterlee says, “We had an excellent second quarter to round off a good first half year. Our transformation into a market-driven healthcare, lifestyle and technology company starts to show its merits, with strong profit contributions from Medical Systems, Lighting and DAP. Our consumer electronics business model is showing its robustness in difficult conditions for the industry and Semiconductors is delivering the expected benefits of its business renewal programme.

"Continuing our consistent focus on shareholder value, we are pleased to announce the launch of a further 1.5 billion euros share repurchase programme, to start in the third quarter.”

Latest Reads
Sunny Leone in Discovery JEET’s show Man Vs Wild

Sunny Leone will be displaying her adventurous side as host of the mega-popular survival series Man Vs. Wild. The iconic series will telecast in Hindi on the soon-to-be-launched GEC Discovery JEET. The new GEC will premiere in the second week of February 2018 and the series will feature the...

Television TV Channels GECs
Times Now appoints Sujeet Mishra as marketing head

Times Network, part of India’s media conglomerate, The Times Group today announced the appointment of Sujeet Mishra as head of marketing, Times Now.

Television TV Channels People
Experience space with BBC's new VR experience

The BBC is giving you a chance fly. Home - A VR Spacewalk is an interactive virtual reality (VR) experience launched today for the HTC Vive and the Oculus Rift, and is available to download for free via the Steam Store and the Oculus Store.

Television TV Channels Factual & Documentary
Sony BBC Earth presents the Best of 2017

Sony BBC Earth revisits some of its most popular episodes of the best shows in a special programming line-up titled Best of 2017 starting 18 December 2017, every night at 7 pm and 11 pm.

Television TV Channels Factual & Documentary
Increased revenue from traditional media boosts Shemaroo numbers

Integrated media content house Shemaroo Entertainment Limited (Shemaroo) reported 18.3 percent higher year-on-year (y-o-y) consolidated total revenue for the quarter ended 30 September 2017 (Q2 FY 2017-18, the quarter under review) stood at Rs 1,345.7 million as compared with Rs 1,138.6 million in...

Television Production House Film Production
21st CF spins-off into new live news & sports co Fox

MUMBAI: After the blockbuster acquisition of 21st Century Fox by The Walt Disney Company, the former has announced that it will spinoff into a new brand Fox’ that will seek to replicate its own success in the newly focussed verticals of live news and sports brands. Using fiscal 2017 as a base, the...

Television TV Channels News Broadcasting
With Star India, Disney emerges as India's largest M&E firm

MUMBAI: Unlike the US, where the merger of The Walt Disney Co and 21st Century Fox’s entertainment assets is between two near equals, the scenario in India is totally different. 21st Century Fox’s India venture Star India is a $1.7 billion dollar media and entertainment behemoth while Disney India...

Television TV Channels People
Disney to buy 21st Century Fox assets for $52.4 billion

The Walt Disney Co has set up a $52.4 billion, all-stock deal to acquire 20th Century Fox and other entertainment and sports assets from Rupert Murdoch’s empire.

Television TV Channels Movie Channels
MOVIES NOW brings #StopDreamingAndStartWinning with 100 Mania Season 5 for its viewers

Movies Now, India’s english movie channel, rings in the festive season with its property ‘100 Mania’, beginning Friday, 15 December at 9pm. In its 5th season, the channel has curated a line-up of some of the biggest Hollywood blockbusters like Furious 7, Jurassic World, Disney’s The Jungle Book,...

Television TV Channels English Entertainment

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories