By Maarten van Tartwijk
AMSTERDAM--Akzo Nobel NV (AKZA.AE) said Tuesday that
first-quarter net profit rose 24% as the Dutch paint and chemicals
maker benefited from currency gains and restructuring efforts.
Amsterdam-based Akzo Nobel, known for paints such as Dulux and
Sikkens, said net profit was 160 million euros ($172 million) in
the first three months of 2015, up from EUR129 million in the same
period a year earlier.
Revenue rose 6% to EUR3.59 billion as currency gains helped to
offset a decline in volume, "reflecting a slow start to the year,"
Akzo Nobel said.
Cost-savings also helped to boost earnings, and the company said
that its restructuring efforts are increasingly bearing fruit.
Akzo Nobel reiterated its financial targets for 2015, which
assume a return-on-sales of 9% and a 14% return on invested
capital. Exchange rate movements and slower growth rates in
high-growth economies will determine the dynamics of 2015, it
said.
-Write to Maarten van Tartwijk at
Maarten.VanTartwijk@wsj.com
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