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Philips sees brighter future

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Philips sees brighter future

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Philips Electronics has signalled brighter business prospects for the rest of this year and surprised the market with a return to profit in the second quarter.

The Dutch conglomerate remained cautious but expects an improved performance saying some of its markets – notably in emerging economies – may be bottoming out. Helped by cost cuts, earnings before interest and taxes were 118 million euros for Europe’s top consumer electronics firm.