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BREAKING NEWS

Philips' sales stay strong

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Philips' sales stay strong

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Dutch electronics group Philips has pleased investors by announcing that its consumer business is holding up in weaker economies. Its shares rose 6.5% after Philips posted second-quarter results that were in line with expectations. Pre-tax earnings were up 7% to 413 million euros.

Philips said the scale of the economic downturn in Europe and North America is not yet clear, but it expects growth in emerging markets to continue, supporting sales in the second half of the year.