April 26, 2019 / 5:17 AM / in 25 days

Signify Q1 core earnings improve on cost-cutting measures

AMSTERDAM, April 26 (Reuters) - Signify NV, the world’s biggest maker of lights, on Friday reported better-than-expected first-quarter earnings, due to cost-cutting measures.

Adjusted earnings before interest, taxes, and amortisation (EBITA) were 115 million euros ($128 million) for the three months ended March 31, compared with 106 million euros in the same period a year ago.

Analysts polled for Reuters had expected EBITA at 110 million euros. Signify, the former lighting division of Philips, was spun off in 2016. ($1 = 0.8981 euros) (Reporting by Toby Sterling; Editing by Subhranshu Sahu)

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