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Phillips NV expects sales to grow 10%
Amsterdam, Apr 13: Dutch Philips Electronics said on Tuesday it expects sales growth of between 5 and 10 per cent in 2004, adding that 10 per cent sales growth was not very likely.
Amsterdam, Apr 13: Dutch Philips Electronics said on Tuesday it expects sales growth of between 5 and 10 per cent in 2004, adding that 10 per cent sales growth was not very likely.
"Sales growth will probably be somewhere between 5 and 10 per cent. 10 per cent is not so likely," Chief Financial Officer Jan Hommen told journalists in a first quarter results conference call.
The company's Chief Executive Gerard Kleisterlee was quoted as saying by several newspapers that 10 per cent sales growth was a possibility.
The company earlier on Tuesday published a better than expected first quarter net profit of 550 million euros ($677.5 million), on 2 per cent higher sales, while forecasting the trend of improving performance would continue.
Hommen also said the firm's US based consumer electronics operations were unprofitable in the first quarter, but he expected the business unit would be in the black for all of 2004.
Bureau Report
"Sales growth will probably be somewhere between 5 and 10 per cent. 10 per cent is not so likely," Chief Financial Officer Jan Hommen told journalists in a first quarter results conference call.
The company's Chief Executive Gerard Kleisterlee was quoted as saying by several newspapers that 10 per cent sales growth was a possibility.
The company earlier on Tuesday published a better than expected first quarter net profit of 550 million euros ($677.5 million), on 2 per cent higher sales, while forecasting the trend of improving performance would continue.
Hommen also said the firm's US based consumer electronics operations were unprofitable in the first quarter, but he expected the business unit would be in the black for all of 2004.
Bureau Report