Coatings and chemicals company AkzoNobel booked net profit of €273m in the second quarter of this year, a sharp increase on 2009’s €155m and well above analysts expectations.

Turnover rose 13% to €3.9bn while volumes rose 8%. Growth was across the board but the company’s speciality chemicals arm showed the strongest performance, with a rise in turnover of 14%.
The results show the company is benefiting from the recovery and on-going restructuring, said CEO Hans Wijers in a statement.
‘The developed markets remain challenging,’ Wijers said. ‘Raw material price pressure and shortages are expected to continue into the third quarter. We will keep a careful eye on the trading environment and costs will continue to be managed aggressively.’