Philips reports fourth-quarter financial results

Philips, the owner of several dental products brands, this week posted its financial results for the fourth quarter of 2009.

The organisation reported improved performances across all of its divisions, declaring a net income for the period of 260 million euros (224 million pounds).

Comparable sales were reported at the same levels of last year, delivering a record adjusted profitability of 12.3 per cent, the company highlighted.

Its consumer lifestyle sales increased by one per cent during the quarter, while growth in its healthcare items division was driven by products designed for use in the home.

President and chief executive officer of the organisation Gerard Kleisterlee commented: “This reflects our strengthened fundamentals and the successful manner in which we have been managing through the downturn”.

In other Philips news, the company was granted a loan of 200 million euros by the European Investment Bank last month, which it claimed it would utilise to fund research and development efforts across its healthcare projects.