Akzo Nobel books sharp profit increase

Tuesday 24 July 2007

Chemicals group Akzo Nobel saw second quarter earnings rise from €207m in 2006 to €279m, well ahead of analysts' expectations. Group sales rose from €2.62bn to €2.69bn.

The company said economic growth in Europe and Asia had contributed to the strong performance, with growth slowing in the US.

CEO Hans Wijers declined to give any more news on Akzo Nobel's bid for ICI, rejected for being too low. The company must decide whether to press ahead with the offer by August 9.

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