October 10, 2019 / 5:22 AM / 12 days ago

Philips to miss 2019 margin goal due to trade tariffs

AMSTERDAM, Oct 10 (Reuters) - Dutch health technology company Philips said on Thursday rising trade tariffs would make it impossible to reach its target for profit margin improvement this year.

Philips said it expected its adjusted EBITA margin to improve by 10 to 20 basis points in 2019, while it had earlier aimed at a 100 point increase. The company stuck to its target of improving comparable sales by 4% to 6%. (Reporting by Bart Meijer; Editing by Muralikumar Anantharaman)

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