Electrical equipment maker Philips said a recent surge in orders for scanners and other medical equipment should enable group sales and margins to rebound over the next six months from a slump in the second quarter.
FILE PHOTO: Dutch technology company Philips. logo is seen at company headquarters in Amsterdam, Netherlands, January 29, 2019. REUTERS/Eva Plevier
Shares in the company were up 4.3% in late morning trade making them the only notable winner on Amsterdam’s blue chip AEX index. The surge in new orders in the second quarter followed on from a 23% rise in orders in the first quarter, reflecting strong demand for medical equipment during the pandemic. In the second quarter of last year, the group’s total new orders rose by just 8%.
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