Bloomberg Law
April 26, 2021, 7:57 AM

Philips Raises Sales Forecast as Focus Narrows to Health (1)

William Wilkes
William Wilkes
Bloomberg News

Royal Philips NV raised its full-year sales forecast, citing increasing demand for health-care services despite the coronavirus pandemic disrupting elective treatment plans.

The maker of respiratory gear and body scanners said it expects to deliver low- to mid-single-digit comparable sales growth in 2021, up from an earlier projection of low single digits. The company warned the coronavirus was still a source of uncertainty and flagged a quality issue with certain sleep and respiratory-care products.

First-quarter adjusted earnings before interest, taxes and amortization rose to 362 million euros ($438 million), or 9.5% of sales, from 208 million euros and 5.6% of ...

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