NEWS

Philips Lighting put the recession behind it in the third quarter of last year, producing a growth in sales of 16 per cent. Sales at Philips Lighting in the period reached £1.66 billion, up from £1.43 billion in the same period the year before.

The lighting division outperformed overall sales, which were up 10 per cent nominally and 1 per cent comparably year-on-year. Overall, the company reported third-quarter earnings before interest, tax and amortisation of £563 million, compared with average City forecasts of £464 million.

Gerard Kleisterlee, president and chief executive of Philips, said lighting delivered a good quarter in terms of both profitability and growth, and that the overall results exceeded the company’s target.

‘The third quarter was another solid quarter for Philips,’ he said. ‘In a still fragile economic environment, with weak consumer markets in the developed economies, we posted sales growth of 10 per cent nominal and 1 per cent on a comparable basis.

‘We also continued on our growth path in emerging markets, with 19 per cent nominal and 7 per cent comparable sales growth. This means that we now generate more than one-third of our sales in these markets. ’

 

RELATED
Act now to change Part L ‘absurdity’, says SLL

The Society of Light and Lighting has called for more pressure to be brought to bear on the Department for Communities and Local Government (DCLG), responsible for the Building Regulations, to change the method used for measuring efficiency in Part L. The current regulations allow for the absurdity of a Part L-compliant fitting (55lm/W) to be left on in unoccupied spaces.

RELATED
LG and Samsung face LED ban

Big Korean businesses have been restricted from selling their LEDs domestically