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Signify Q1 sales, profit meet expectations amid component shortages

AMSTERDAM, April 30 (Reuters) - Signify, the world’s largest lighting maker, on Friday reported first-quarter net profit of 60 million euros ($72.7 million), in line with expectations, as component shortages kept the company from feeling the full effects of an economic rebound.

Profit in the same period a year earlier was 27 million euros at the start of the coronavirus pandemic. First-quarter 2021 sales rose 3.2% to 1.60 billion euros.

Analysts had seen first-quarter net income at 60 million euros on revenue of 1.59 billion euros, according to Refinitiv data.

$1 = 0.8255 euros Reporting by Toby Sterling; Editing by Vinay Dwivedi

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