July 20, 2020 / 5:16 AM / 15 days ago

Dutch health tech company Philips says will return to growth in H2

AMSTERDAM, July 20 (Reuters) - Dutch health technology company Philips said on Monday it expected to return to growth in the second half of the year, after sales dropped 6% in the second quarter due to the global fight against the coronavirus.

Philips said its adjusted earnings before interest, taxes and amortisation (EBITA) fell 24% to 418 million euros ($478.2 million) in the April-June period, while comparable sales dropped to 4.4 billion euros.

Analysts polled by the company on average had expected core earnings of 344 million euros on 4.34 billion euros of sales.

$1 = 0.8740 euros Reporting by Bart Meijer; Editing by Kim Coghill

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