Akzo Nobel 2Q Ebit Rises 8.6%, Beating Forecasts
July 19 2016 - 2:09AM
Dow Jones News
By Ian Walker
Paints and specialty chemicals firm Akzo Nobel N.V. (AKZA.AE) on
Tuesday said its second-quarter earnings before interest and taxes
rose 8.6%, beating consensus forecasts, but said the market
environment remains uncertain with challenging conditions in
several countries and segments.
The Amsterdam-based company, has Dulux, Sikkens, Interpon and
Eka among its brands, said the rise in profit was mainly due to
improvement initiatives and lower costs, although these were partly
offset by adverse currency effects, which are expected to
continue.
For the quarter ended June 30, Akzo Nobel said Ebit rose to 491
million euros ($543.64 million) from EUR452 million a year earlier;
Revenue rose to EUR3.71 billion from EUR3.95 billion. This compared
with consensus forecasts of EUR463.4 million and EUR3.84 billion,
respectively, which was based on about 12 analysts forecasts.
Net profit fell to EUR312 million from EUR331 million.
-Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
July 19, 2016 01:54 ET (05:54 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
Akzo Nobel NV (EU:AKZA)
Historical Stock Chart
From Mar 2024 to Apr 2024
Akzo Nobel NV (EU:AKZA)
Historical Stock Chart
From Apr 2023 to Apr 2024
