Dutch electronics group Philips has said its net profit in 2006 rose 87%, largely because of sell-offs during the year.
Net profit was €5.4 billion, compared with €2.9 billion in 2005, while sales increased by 4.6% to €27 billion.
Known for decades for household electrical goods, Philips is transforming its business to focus on healthcare and lifestyle technology. In August, the group announced the sale of its semiconductors division for €8.3 billion to a group of investment funds.
