Slowdown, US problems prompt Philips' Q4 profit warning
Amsterdam
PHILIPS warned on Tuesday that fourth-quarter earnings would be worse than expected because of the lengthy closure of a manufacturing plant in Cleveland, Ohio and a slowdown in some of its major markets.
The latest profit warning from the Dutch industrial company comes after its stock underperformed benchmarks and chief executive Frans van Houten announced plans last year to break up the company, splitting off its lighting business.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
HCA beats first-quarter profit estimates on higher patient admissions
US FDA approves Pfizer’s gene therapy for rare bleeding disorder
EU toughens rules on Chinese fashion retailer Shein
Best World under fire from shareholders at AGM over dividends, director salaries
‘Extreme’ climate blamed for world’s worst wine harvest in 62 years
Sheng Siong Q1 net profit up 9.3% on higher revenue