(Photo by Beata Zawrzel/NurPhoto via Getty Images)Dutch health technology company Philips on Monday slightly raised its full-year targets after posting a bigger-than-expected jump in second-quarter core earnings thanks to better supply chains, a strong order book and efficiency measures.
For the full year, it now expects a mid-single-digit comparable sales growth versus its previous guidance of a low-single-digit growth.
Its adjusted EBITA margin is now seen at the upper end of its previously forecasted high-single-digit range.
Philips, which is facing lawsuits over its recall of respiratory devices, said it had produced approximately 99% of the new replacement respiratory devices and repair kits required for the remediation of the registered affected devices.
"Completing the Philips Respironics field action remains our highest priority.
Persons:
Beata Zawrzel, Roy Jakobs
Organizations:
Philips, Getty Images, U.S . Department of Justice
Locations:
Warsaw, Poland, Amsterdam