Philips Electronics NV pleased the Amsterdam markets with better than expected results yesterday. The Dutch electronics company turned in net profits the equivalent of $1,523.6m in the year to December 31, on revenue up 5.7% to $38,972.2m. Chairman Jan Timmer said the highest income growth was recorded by our components and semiconductors divisions. But he added, the performance of Grundig and of our communications systems division continued to be most disappointing. Timmer said he expected the Grundig consumer electronics company to break even by the end of 1997. He said sales will continue to rise this year, but at a slower rate. Philips will invest heavily in fixed assets and working capital this year, and this will be met largely from internally-generated funds.
