Philips to buy back €1.5 billion in shares

Electronics group Philips has pledged to buy back €1.5 billion in shares over the next two to three years and extend an efficiency drive to boost its margins.

17th September, 2013
Philips logo

Electronics group Philips has pledged to buy back €1.5 billion in shares over the next two to three years and extend an efficiency drive to boost its margins.

The Dutch maker of lighting and consumer electronics, which has had two years of job cuts, divestments, and a focus on core activities, has set a cumulative sales target of growth of four to six per cent from 2014 to 2016.

It has set a profit margin target of...

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