Electronics Production |
Philips announces further cost saving measures
Royal Philips, headquartered in Eindhoven, The Netherlands, has announced further cost saving initiatives in its quarterly report for Q3. This comes after a weaker-than-expected third quarter result.
Furthermore, the Group plans to slow down its share buy-back programme. The quarterly report states that the 3Q EBITA dropped from €444 million (2007) to €128 million - despite the fact that experts predicted an EBITA of €168 million. The turnover also fell - from €6.47 billion to €6.33 billion.
