Philips net profit up

Dutch

electronics and health care giant Philips says net profit rose 18 per cent to €383 million (Dh1.53 billion; $417 million) in the third quarter from the same three months last year as its health care technology portfolio recorded solid sales growth. The company, which is in the process of spinning off its lighting business, says sales edged higher to €5.9 billion from €5.8 billion in the same period last year. (AP)