20 Jul 2010

Surge in profits reported by Philips

6:59 pm on 20 July 2010

Philips has reported a surge in second-quarter profits, led by a rise in lighting sales.

The Dutch electronics company made a net profit of 262 million euros ($US338 million) in the three months to June, compared with a profit of 45 million euros last year.

But it also says income taxes and financial expenses were higher.

Revenues rose 12% to 6.2 billion euros, with lighting sales growing by 13%.

Emerging markets had shown "strong double-digit growth".

Philips added that it was confident its profit margin would exceed 10% for the full year.