Restructuring boosts profitability of Philips consumer goods and lighting business

Philips in the Netherlands announced on the 27th that net profit in the second quarter climbed 12.8% from 243 million euros (about RMB 1.673 billion) in the same period last year, reaching 274 million euros (equivalent to about 1.887 billion yuan). Net profit exceeded analysts' expectations of 1.07. One hundred million euros, mainly benefited from Philips' healthcare sector revenue growth, and improved profitability of consumer goods and lighting businesses. Philips also announced that after the second quarter adjustment, EBITA's surplus increased by 27% to 501 million euros (about RMB 3.450 billion), higher than analysts' expectations of 415 million euros. After the earnings report, Philips' share price jumped 5.4 on Monday. %, the current share price rose 3.7%, to 25.075 euros (equivalent to about 172.68 yuan), this year's share price has risen 3.9%. The profit margin of Philips' medical business improved in the second quarter, but was offset by the strength of the US dollar and investment. As a result of the restructuring measures, the company's consumer goods and lighting business operating rate increased. In addition, Philips still expects moderate revenue growth this year, and its performance will continue to improve in 2016. The company plans to sell its lighting business through sale or stock listing.

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