Amsterdam - Dutch electronics group Philips announced yesterday that its 2006 net profit rose by 87 percent to €5.4 billion (R50 billion), largely because of divestments during the year.
Sales increased by 4.6 percent to €26.98 billion.
Philips announced a full-year dividend of 60c compared with 44c in 2005.
In August, the group sold its semiconductors division for €8.3 billion to a group of investment funds. - AFP