Royal Philips Electronics N.V. Says Spin-Off On Track Despite Quarterly Loss
(Reuters) - Dutch conglomerate Philips (PHG.AS) said it was pushing ahead with the planned spin off of its lighting business despite a net loss in the third quarter, when it was hit by weakness in Russia and China and a string of one-off charges.
On Monday, blaming dampened demand in key growth markets, Philips warned adjusted second-half earnings before interest, tax and amortisation (EBITA) would be slightly below last year.
But the company added it expected improvements in 2015 and remained committed to its targets for 2016.
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On Monday, blaming dampened demand in key growth markets, Philips warned adjusted second-half earnings before interest, tax and amortisation (EBITA) would be slightly below last year.
But the company added it expected improvements in 2015 and remained committed to its targets for 2016.
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