International. A total of 282 million euros were the profits reported by the Dutch company Philips for the third quarter of the year, which means an increase of 171% compared to the same period last year, when 104 million euros were achieved.
Undoubtedly, this is the result of the restructuring plan initiated by the company after the economic crisis, through which it sold some of its businesses to focus mainly on lighting and health segments.
For the period in question, the company had revenues of 5,618 million euros and despite the increase in profits, this figure is 3.5% lower than that presented in 2012, explained by the lower sales in the United States mainly in the health lines, while sales of the consumer and lifestyle business grew.
In the consolidated of the first nine months of the year, Philips' profits reached 760 million euros, representing 95.8% more compared to the same period in 2012.
After commenting on the positive results, the company announced that it will start a process of repurchasing shares, worth 1,500 million euros through a process that is stipulated for the next two or three years. In this way they seek to reduce the volume of securities of the company available in the market, since the shares that are acquired will be canceled.
