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Philips Sees Health-Care Results Recovery Toward End of Year

Royal Philips NV, which earlier this month cut its profit guidance on health-care equipment sales, is budgeting for improved earnings at the body-scanner and medical-gear unit at the end of the year.

Sales at the division declined 4 percent in the second quarter, with deteriorating profitability, the Amsterdam-based company said in a statement today. Group net income fell 24 percent to 242 million euros ($328 million), compared with an average analyst prediction of 160 million euros, on lower taxes.