Philips earnings rise

THE HAGUE: Dutch electronics giant Philips on Tuesday unveiled solid net profits for last year, up 55 per cent on 2014 driven by increased sales in its healthcare and lifestyle business as it seeks to shed its historic lighting section. Total net profit attributable to shareholders was 645 million euros ($700 million) compared to 415 million euros in 2014, with sales up to 24.2 billion euros amid rising orders in North America and Europe, the company said. That represented a 13.3 per cent hike in sales over the previous 12 months, which dropped to two per cent when adjusted for comparable exchange rates and other changes.