Philips' reports 8% growth:
This article was originally published in Clinica
Executive Summary
Sales at Philips' medical systems business recorded above average growth, contributing to the 8% increase reported for Professional Products and Services in the first half of 1996 (ended June 30th). Sales in this division were Fl 5,010 million ($2,947 million), representing nominal growth of 3% on the same period in the previous year. The division's operational loss was Fl 81 million, compared with Fl 73 million the previous year. Philips' group sales were Fl 31,799 million, reflecting nominal growth of 9%. Adjusted for currency effects, this represents growth of 7%. Net income was Fl 236 million, compared with Fl 1,327 million last year.