Royal Philips NV reported a 9 percent increase in fourth-quarter adjusted profit and said orders were strong in China and North America at its diagnosis-equipment business.
Adjusted earnings before interest, taxes and amortization rose to 884 million euros ($1.1 billion), the maker of medical scanners said in a statement on Tuesday. That missed the average estimate of analysts surveyed by Bloomberg of 898.2 million euros.
“We’re very happy” with the growth in orders, Chief Executive Officer Frans van Houten said in an interview with Bloomberg TV, adding that the company “will continue to look” at possible acquisitions.
Philips has pledged to improve profit margins after refocusing its business on health-care equipment and services while exiting from the manufacture of products like light bulbs, TVs and CDs. To boost revenue, the Amsterdam-based company is aiming for more partnerships with hospitals, where it competes with General Electric Co. and Siemens AG to sell devices like X-ray and diagnostic machines.
Comparable sales in the latest quarter rose 5 percent, bringing the increase for the year to 4 percent and allowing the company to meet its outlook of 4…