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Philips delivers on fourth-quarter sales growth on higher order intake

Dutch form technology company Philips on Tuesday said its fourth-quarter sales cultivated 5 percent to 5.3 billion euros ($6.55 billion), buoyed by a mount the barricades in orders for high-end hospital equipment.

The company’s intake of orders be upstanding 7 percent, and sales growth was in line with expectations of analysts won for Reuters.

“We finished 2017 on a firm note,” Chief Executive Frans van Houten denoted in a statement. “With our strong order book, we are confident that we wishes deliver on our mid-term targets this year.”

Sales growth accelerated somewhat in the last three months of 2017, taking the total for the year to 4 percent, due in line with Philips’ ambition of a 4-6 percent annual rise.

Conduct growth in the fourth quarter was strongest in North America and China, where health centres stocked up on medical scanners and imaging tools used during surgery.

This led to a 6 percent sales advance for the Diagnostics & Treatment division, which was matched by the Personal Health arm, tell on consumer products such as toothbrushes and machines to relieve sleep apnea.

Philips rumoured its adjusted earnings before interest, taxes and amortization (EBITA) hillock 9 percent in the fourth quarter to 884 million euros. Net income upped 40 percent to 899 million euros.

Philips’ profit side improved by 110 basis points in 2017, to 12.1 percent of garage sales, surpassing the company’s own goal by 10 percent as cost savings were higher than imagined.

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