AMSTERDAM, Oct 23 Reuters Dutch health technology company Philips on Monday raised its fullyear outlook as it beat analysts39; expectations for thirdquarter core profit and comparable sales.

Core profit more than doubled to 457 million euros 483.3 million, while comparable sales were up 11 at 4.5 billion euros as demand for its medical scanners, patient monitoring equipment and personal health devices increased.

New orders, however, were down 9 from last year, as demand from China continued to cool from a prepandemic boom and supply chain problems persisted.

CEO Roy Jakobs in an interview with Reuters last week said Philips aimed to make more products for China locally and to buy chips from several suppliers as ways to deal with rising trade tensions.

Despite the drop in orders, Philips said it now expected 6 to 7 comparable sales growth over 2023, with a profit margin adjusted EBITA of 1011.

Its previous outlook guided for midsingle digit sales growth with a high single digit profit margin.

Analysts in a companycompiled poll had predicted adjusted JulySeptember earnings before interest, taxes and amortisation would rise to 389 million euros from 209 million euros a year before, on 8 comparable sales growth.

1 0.9456 euros

Reporting by Bart Meijer; Editing by Jacqueline Wong and Varun H K

Source Reuters