Philips (PHG): Q1 net profit -11.5% to €161M, missing consensus of €153M; sales -1% to €5.26B...

|By:, SA News Editor
Philips (PHG): Q1 net profit -11.5% to €161M, missing consensus of €153M; sales -1% to €5.26B and vs €5.41B, with the drop due to negative currency effects and portfolio changes. Healthcare comparable sales -1% as orders for Healthcare in North America slump by double digits, hurt by U.S. healthcare reforms making hospital CEOs more cautious. Philips reiterates that it expects a slow H1. Shares -3.1% in Amsterdam. (PR)