Akzo Nobel 2Q Profit Rises 61% Year-on-Year on Cost Savings, Restructuring
July 21 2015 - 1:52AM
Dow Jones News
By Maarten van Tartwijk
AMSTERDAM--Dutch paint and chemicals maker Akzo Nobel NV Tuesday
said net profit jumped 61% in the second quarter, as restructuring
efforts continued to bear fruit.
Akzo Nobel said net profit for the three months ended June 30
was 331 million euros ($359 million), up from EUR205 million in the
same period a year earlier. Revenue rose 6% to EUR3.95 billion, up
from EUR3.71 billion a year earlier.
Akzo Nobel, one of the world's biggest paint makers, said
earnings benefited from restructuring efforts, cost-savings and
divestments, which helped to offset weak market conditions in
Europe and slower growth in emerging markets such as China, Russia
and Brazil.
The company said it remains on track to achieve its financial
targets for 2015.
Write to Maarten van Tartwijk at maarten.vantartwijk@wsj.com
Akzo Nobel NV (EU:AKZA)
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