Philips reported Q1 2016 net profit of €37 million ($41.8 million), down 63% YoY from €100 million ($113 million). Turnover was €5.5 billion, up 3% YoY from €5.3 billion. The increase in turnover was due to a 5% sales growth in the Healthcare segment whereas net profit was lower due to tax charges on account of the Lighting segment spinoff.
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