AMSTERDAM: Royal Philips NV’s efforts to revamp supply chains to avoid tariffs from the US-China trade dispute are paying off, with the Dutch healthcare company reporting better-than-estimated profit.
Chinese demand for the latest diagnostic equipment and image-guided therapy devices drove a double-digit increase in orders in the the second quarter, the Amsterdam-based company said yesterday. Philips hit the top end of its sales growth target range, with an increase of about 6%, beating the 4.5% uptick expected by analysts.