Electronics giant Philips booked a drop in net profit and sales in the second quarter of 2014, the company said on Monday.

Turnover fell 6% to €5.2bn while net profit fell by €74m to €243m.

Philips says it was hit by the relatively strong euro and by difficult market conditions, particularly in the US, for its medical systems.

‘In the second quarter we continued to face headwinds, including ongoing softness in certain markets, unfavourable currency exchange rates and the voluntary suspension of production at our health care facility in Cleveland,’ chief executive Frans van Houten said in a statement.