Dutch electronics group Philips today reported a net profit of €201m for the first quarter of this year, thanks to strong sales of lighting products.
The figure is more than two times better than forecasts given by financial analysts, but in a statement Philips remained prudent about the coming months due to global economic uncertainties.
Sales rose 12% to €5.7 billion compared to the first three months of last year, when Philips reported a net loss of €57m.
Lighting sales rose 18%, while overall sales to emerging markets including China and India rose 22%.
'Economic uncertainty remains high and consumer confidence low,' said Philips chief executive Gerard Kleisterlee. 'At the same time, some key markets such as the construction sector have yet to recover,' he said.
'However, our strong fundamentals, sound strategy and ability to adapt swiftly to changing market circumstances have put us in a good position for continued success,' he added.
