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Philips profits plunge 32.9% in second quarter
Dutch electronics giant hit mainly by the costs of spinning off its lighting business last year
Add BT as a preferred sourcePublished Mon, Jul 24, 2017 · 09:50 PM
The Hague
DUTCH electronics giant Philips Monday posted a 32.9 per cent fall in second-quarter profits, hit mainly by the costs of spinning off its lighting business last year.
Net income dropped to 289 million euros (S$458 million) from 431 million euros over the same period in 2016 "due to lower income from discontinued operations, and higher structuring and acquisition-related charges", the Amsterdam-based company said.
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