Philips Shrugs Off China Slowdown With $1.7 Billion Buyback - electric toothbrush

Frans van Houten, chief executive of Royal Philips NV, dismissed China's economic slowdown, raised dividends and launched a new stock repurchase plan,
Shares have risen four times.
4%, the most in nine months, after the Dutch manufacturer of scanning and diagnostic machines released a new 1. 5 billion euros ($1. 7 billion)
Stock purchase plans and dividends increased by 6%.
Better growth in comparable salesthan-
According to a statement on Tuesday, it is expected to reach 5% in the fourth quarter.
Contrary to China's food market, where retail growth has generally weakened, Van Houten said Philips has found a specialized market for products such as breathing machines and electric toothbrushes, which have "amazing profits"”“The health-
"The health care market is strong, which may be related to an aging population and inadequate capacity," he said in an interview with Bloomberg TV . ".
"This is a good market for us.
Philips promises to increase sales and increase profit margins after refocusing its business on the health sector --
When exiting from the manufacture of products such as bulbs, TVs and CDs, please pay attention to the equipment and services.
The company competes with GE and Siemens to sell X-
Ray and scanner and P & G
In the electric toothbrush market.
Philips reiterated on Tuesday that as of 2020, the company's sales target was an average annual growth of 4% to 6%.
Due to tight trade, the Dutch company also narrowed its manufacturing footprint from 50 to about 30.
This led to the closure of a US factory earlier this month. K.
The Brexit crisis intensified.
Manufacturers are not bad for investing in the United States. K.
Van Howton said in an interview that the future. Fourth-
Adjusted interest, tax and amortization earnings rose from 0. 971 billion euros a year earlier to 0. 884 billion euros.
Analysts expect 0. 957 billion euros.
The number of comparable orders increased by 10%.
According to Frank Clarkson, Degroof Petercam analyst, Philips will have to deal with the growing headwinds in the future. On top of US-
China's trade tariffs and the investment required by EU medical device rules, "the uncertainty caused by global trade is increasing --
"The war, Britain's exit from the EU, China's economic slowdown and the shutdown of the US government," he said . "
Philips's performance is in sharp contrast to rival Siemens Medical, which reported lower-than-expected profits due to initial problems with the diagnostic platform.
Read: Siemens Healthcare Completes diagnosis after loss of profit-