Signify, the world's biggest maker of lights, on Thursday again cut its full-year profit margin and sales guidance, citing a steeper slowdown in China than expected and a lower demand from businesses.The Dutch group, formed from the spin-off of Philips' lighting unit, which had already warned on its resul
Signify, the world's biggest maker of lights, on Thursday again cut its full-year profit margin and sales guidance, citing a steeper slowdown in China than expected and a lower demand from businesses.
The Dutch group, formed from the spin-off of Philips' lighting unit, which had already warned on its results in July and in October, now expects an adjusted EBITA margin of approximately 10 per cent for both the fourth quarter and the full year 2022.
Comparable sales growth is now seen at 1.2 per cent for 2022, versus a previous guidance of a 2-3 per cent increase.
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