Royal Philips Electronics (PHG, PHGFF.PK) announced that it is making progress towards reaching its targets for 2013, although expecting a slow start to the year. According to the company, Accelerate! is delivering solid results, with significant gains to be made until 2017.
Separately, Philips said it is well on track to achieve its 1.1 billion euros overhead cost savings forecast by 2014, and its share buy-back program would be completed as planned.
In addition, commenting on its growth outlook, Philips Healthcare reported slow start into the first half of 2013; with a challenging North American market.
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