Philips Electronics reported better-than-expected quarterly results, buoyed by one-off gains and a stronger performance at its consumer and healthcare businesses, in the first signs of a long-awaited turnaround under new management.

But the Dutch group warned that the outlook for the rest of the year was still worrying given the weak economic environment, as fragile consumer spending and government budget cuts in its key markets have a direct impact on its three main businesses in consumer electronics, medical equipment, and lighting systems.

"We remain cautious about the remainder of 2012 given the uncertainties in Europe, particularly in the healthcare and construction markets, and the slowing growth rate in the global economy," chief executive Frans van Houten said in a statement.

While noting the turnaround in the first quarter, Mr van Houten flagged the need for further restructuring, and said Philips must do more to shake up its corporate culture - considered to be overly consensus-driven and cautious - in order to get its new products onto the market quicker.

He reiterated that results in 2012 would be impacted by restructuring charges and one-time investments, and so declined to give a full-year forecast. However, the Dutch group stuck to its guidance for 2013 of 4-6 per cent sales growth, 10-12 per cent core profit and 12-14 per cent return on invested capital.

Philips, which made a loss of €160 million in the fourth quarter of last year, reported first-quarter net profit jumped 80 per cent to €249 million as sales climbed 7 per cent to €5.6 billion.

Operating profit, or earnings before interest, taxes and amortisation (Ebita), was €552 million, up 26 per cent.

Analysts in a Reuters poll had forecast first-quarter net profit of €186 million, and Ebita of €433 million, on quarterly sales of €5.436 billion.

Reuters