Philips Lighting CEO: European Business Is Growing
Philips Lighting NV said second-quarter profit rose 16 percent as the world’s largest lighting manufacturer boosted sales of more energy-efficient light emitting diodes. Adjusted earnings before interest taxes and amortization increased to 161 million euros ($178 million), the company said in its debut earnings statement on Friday. Sales declined 6.2 percent to 1.7 billion euros, short of the 1.83 billion euros estimated by analysts. “Our business at this point in time in Europe is growing,” CEO Eric Rondolat tells Bloomberg's Anna Edwards and Manus Cranny on "Countdown."