Amsterdam, Oct. 17 (Reuters): Dutch group Philips Electronics reported an increase in third-quarter net profit to 1.436 billion euros, above analysts’ expectations.The company said it was on track to deliver financial targets.

The net profit was boosted by 1.09 billion euros in one-off gains on the sale of non-core assets, Philips said on Monday. Analysts polled by Reuters had on average expected net profit of 1.255 billion euros.

The electronics conglomerate is a top-three hospital equipment maker, Europe’s biggest consumer electronics producer and the region’s third-largest in semiconductors.

Philips, also the world’s biggest lighting maker, reported a 5 per cent increase in third-quarter sales to 7.626 billion euros. The sales increase was better than a 2.3 per cent decrease forecast in the poll of 23 analysts.