Amsterdam — Royal Philips said surging sales in China helped lift the Dutch health-equipment company’s profit by 12% in the third quarter. Adjusted earnings before interest, taxes and amortisation increased to €532m, the maker of medical scanners and diagnostic gear said in a statement on Monday. Sales rose 4% on a comparable basis to €4.1bn, missing the average estimate of analysts surveyed by Bloomberg of €4.23bn. "From a geographic standpoint, China was a star performer with double-digit growth in the period," Natixis analyst Alain William said. The company signed new strategic partnerships in the region, and grew business in the private hospital segment. Philips has made a series of acquisitions in recent months that have focused the 126-year-old Dutch company into health technologies including software and services. In the process, the company has moved away from its historic roots in manufacturing light bulbs, TVs and CD players. The latest financial figures include as a disco...
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