) post better-than-expected sales growth for the second quarter, putting its shares among the top performers in Europe on Monday.
Growth was helped by a “double digit” sales increase in China, Philips said, as the Chinese government ramps up healthcare spending, expanding hospitals and investing in more advanced technologies. Demand and orders for hospital equipment, medical systems and personal care devices also increased in the United States and Europe, keeping Philips optimistic about the months to come.
“The main cloud hanging over us is the possible fourth batch of tariffs,” Van Houten said. “If that would happen, it would increase the amount by which our earnings are hit by 20 million euros this year, but nobody knows whether it will happen.”FILE PHOTO: Dutch technology company Philips' logo is seen at company headquarters in Amsterdam, Netherlands, January 29, 2019.
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