Philips raises its margin target for 2010

Philips has raised its margin target for 2010 after better than expected results for the second quarter driven by strong sales in emerging markets.

The Dutch consumer electronics was confident of being able to exceed its margin target of 10% EBITA before exceptional items this year as he previously thought just to reach this goal.

"The performance in terms of turnover was particularly strong in emerging markets," said CEO Gerard Kleisterlee in a statement.

EBITA in the second quarter amounted to 527 million euros, against 118 million euros last year and 486 million euros expected, for a turnover of 6.2 billion euros.

Net profit stood at 262 million euros, higher than expected 241 million euros.

This is the sixth consecutive time that the results of Philips are superior to expectations.

The European leader in consumer electronics has reduced the cost during the crisis and the beginning of economic recovery, which helped to generate profits even in difficult times.

Comments are closed.

« Daimler will raise its forecasts after a strong second quarter Berli Jucker coveted assets Carrefour Thailand »