With comparable sales growth of 5.1%, order intake growth of 10% and margin expansion of 130bp, Royal Philips started FY18 on a promising note. Robust growth in the D&T segment led to the outperformance, despite deceleration in the PH and CC&HI segments. Given a strong order book, we expect the comparable sales growth to reach the middle of the guidance range of 4-6% in FY18. The target price resets higher by c.4%.
25 Apr 2018
Q1 outperformance driven by D&T
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Q1 outperformance driven by D&T
Koninklijke Philips N.V. (PHIA:WBO) | 0 0 1.5% | Mkt Cap: 29,653m
- Published:
25 Apr 2018 -
Author:
Sumit Sayal -
Pages:
4
With comparable sales growth of 5.1%, order intake growth of 10% and margin expansion of 130bp, Royal Philips started FY18 on a promising note. Robust growth in the D&T segment led to the outperformance, despite deceleration in the PH and CC&HI segments. Given a strong order book, we expect the comparable sales growth to reach the middle of the guidance range of 4-6% in FY18. The target price resets higher by c.4%.