Philips experiences across-the-board growth in Q4 2011

Philips has published its financial report for the fourth quarter of 2011, a year in which the company achieved year-on-year revenue growth across all of its operating sectors.

The firm's sales total for the three months came to 6.7 billion euros (5.56 billion pounds), up by three percent compared to Q4 2010, led by a seven percent rise in sales of its lighting products.

In the healthcare sector, comparable sales and equipment order intake rose by three percent, with double-digit growth in emerging markets helping to counterbalance downward pressures such as increased research investment.

Meanwhile, the company is also starting to see benefits from its Acclerate! change and performance improvement programme, having enhanced its operational efficiency and attracted talent to key positions.

Philips chief executive officer Frans van Houten said: "While we are concerned about the economic environment, all of us at Philips are fully committed to improve our operational performance to achieve our mid-term 2013 financial targets."

Last month, the company announced that it will be enhancing its Pinnacle3 radiation treatment planning system with the development of new adaptive planning software.