Dutch electronics giant Philips has warned that its fourth quarter pro ts will be worse than expected
Philips has yet to release full figures, but it said free cash flow would be £826m. It was £991m last year.
Philips said the problems in the struggling European market meant it could not charge customers as much as it would have liked for lamps, leading to the drop in profits.
Chief executive Frans van Houten said: ‘We have taken measures to address our inventory situation in the lighting business.’
22 August 2011
The VELUX CarbonLight Homes in Kettering were designed to deliver a 70 per cent reduction in Carbon
11 July 2011
The deadline for your Lux Awards entries has been pushed back to Friday 22 July.
If you haven’t entered already, you’ve been given an extra chance to get yourself in the running to win a Lux Award!