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Philips CEO says still sees lower 2014 despite strong H2
July 21, 2014 / 6:50 AM / 3 years ago

Philips CEO says still sees lower 2014 despite strong H2

AMSTERDAM, July 21 (Reuters) - Philips said on Monday that it does not expect that its 2014 core profit will beat last year’s despite an anticipated stronger second half.

“We are on the right track,” Philips Chief Executive Frans van Houten told reporters on a conference call. “But overall we expect 2014 EBITA to be lower than in the previous year.”

Philips said earlier on Monday it expected earnings before interest, tax and amortisation (EBITA), excluding special items, to be higher in the second half of the year compared to the same period last year. (Reporting by Harro ten Wolde; Editing by Thomas Escritt)

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