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Akzo Nobel posts flat net profit in first quarter

April 20/2017

MOSCOW (MRC) -- Dutch paint and chemicals giant Akzo Nobel NV AKZA reported a flat net profit for the first quarter of 2017, while guiding for higher profitability during the full year, said the company on its site.

Net profit for the period ended March was 240 million euros (USD257.5 million), on par with net profit during the same period a year earlier.

The company said it expects earnings before interest and taxes to be roughly EUR100 million higher than in 2016, which came in at EUR1.5 billion (USD1.61 billion).

Quarterly revenue rose 7% to EUR3.67 billion, mainly as a result of higher volumes and acquisitions.

As MRC wrote earlier, in December 2016, AkzoNobel finalized the acquisition of BASFs global Industrial Coatings business, which supplies a range of products for industries including construction, domestic appliances, wind energy and commercial transport, strengthening its position as the global number one supplier in coil coatings. The transaction included relevant technologies, patents and trademarks, as well as two manufacturing plants in the United Kingdom and South Africa.

Akzo Nobel N.V., trading as AkzoNobel, is a Dutch multinational, active in the fields of decorative paints, performance coatings and specialty chemicals. Headquartered in Amsterdam, the company has activities in more than 80 countries, and employs approximately 55,000 people.
Author:Anna Larionova
Tags:adgezivi/germetiki, paints and coatings, coatings, AkzoNobel.
Category:General News
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