World's largest lighting maker, Royal Philips Electronics NV on Monday announced its sales to mark a significant rise and a return to profit in the first quarter, nudged by good performance by its lighting division.
"While our Q1 results of course compare very favorably with the recession-impacted Q1 2009, they are... (also) at a level that we have not seen before in a first quarter," posted Chief Executive Gerard Kleisterlee in a statement.
The company posted that its net profit to touch euro200 million ($270 million), coping up form a loss of euro59 million in the same period the previous year. Also, its sales climbed 12 percent to euro5.68 billion.
However, analysts polled by the company had estimated its net profit to touch euro109 million. The company on Monday posted that sales at its lighting division marked a surge 18 percent, while its consumer product arm grabbed a sales rise of 11 percent. Sales at its health care arm, which makes medical imaging equipment, grew 7 percent.
Moreover, its energy-efficient LED bulbs sales are reported to have tripled, while its automotive lights and fixtures have fetched advantage from inventory restocking in Europe.
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