Philips recorded a growth of 3% in Q1

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PhilipsPhilips reports Q1 comparable sales growth of 3% to 5.5 billion euro and a 14% improvement in adjusted EBITA to 374 million euro. Comparable sales growth driven by 5% growth in HealthTech portfolio, while net income amounted to 37 million euro, compared to 100 million euro in Q1 2015. «Philips’ first-quarter 2016 results – commented the company’s ceo, Frans van Houten – reflect solid comparable sales growth across our HealthTech businesses and our Led Lighting business, bolstered by the successful launch of several new products. We also delivered continued operational improvements throughout the company, driven by higher volume and improved product mix. Our overall performance strengthened, supported by the ongoing benefits of our multi-year Accelerate! transformation program, despite challenging macro-economic conditions in several markets.Our outlook for 2016 remains unchanged, as we continue to expect earnings improvements in the year to be back-end loaded, taking into account ongoing macro-economic headwinds and the phasing of costs and sales.» Regarding small appliances sector, Philips Oral Healthcare business continued its growth trajectory, with a strong performance in China where the Sonicare Essence+ was recently launched.