Philips warns that trade tariffs will mean 2019 margin goal miss

Philips said on Thursday trade tariffs and poor results at its Connected Care arm meant the Dutch healthcare technology firm would miss its 2019 target for profit margin improvement. Although Philips now expects adjusted EBITA margin to improve by 10 to 20 basis points, well off its previous 100 basis point goal, it said in a statement it was sticking to its 2020 target of improving comparable sales by 4% to 6%. “We continue to see good growth momentum across our businesses,” Chief Executive Frans van Houten said, adding he was disappointed by a margin decline in …read more

Source:: Yahoo Finance