The group posted a profit before tax of £11.3 million, up from £5.3 million in 2009. Revenue jumped 28 per cent to £99.2m. LED signalling – such as traffic lights – is a major market for the company, but in recent years it has become stronger in the mainstream lighting market.
LED specialist Dialight doubled its profits in 2010 and saw sales rise by 28 per cent.
WEEE compliance scheme Recolight won the waste management award at the Rushlight Awards for its low- energy lamp collection containers Bulbstore Mini and Bulbstore Maxi.
Philips has bought NCW, a Hong Kong designer, manufacturer and distributor of LED, conventional entertainment lighting and lighting controls.