Philips 4Q Operational Results Improved 50%
Royal Philips Electronics reported that operational results improved by 50%, to EUR 875 million in the fourth quarter of 2012, even as net income was driven down by charges in the quarter. Comparable sales were up 3% in the quarter, and up 10% in growth geographies.
Consumer Lifestyle comparable sales were up 2%, with double-digit growth in the combined growth businesses – that is, Personal Care, Health & Wellness, and Domestic Appliances. Increases were partly offset by a sales decline in Lifestyle Entertainment.