Philips Prof­its Soar 25% in 2017


AM­S­TER­DAM (AFP) - Dutch elec­tron­ics gi­ant Philips on Tues­day posted soar­ing prof­its of 1.87 bil­lion eu­ros ($2.3 bil­lion) in 2017, as it in­creas­ingly fo­cuses its busi­ness on health tech­nol­ogy.

Net prof­its were up 25 per­cent, while sales rose by two per­cent to al­most 18 bil­lion eu­ros, as health-con­scious con­sumers snapped up ev­ery­thing from elec­tric tooth­brushes to kitchen ap­pli­ances.

“2017 was a good year, as we con­tin­ued the trans­for­ma­tion of Philips into a fo­cused leader in health tech­nol­ogy and de­liv­ered on our im­prove­ment tar­gets for the year,” chief ex­ec­u­tive Frans van Houten said in a state­ment.

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