AkzoNobel sees signs of recovery in the paint market

Paint and coatings maker Akzo Nobel saw net profits rise 19% in the first six months of 2014 to €334m, as sales picked up across all sectors.

Turnover was down 3% in the first half, due to currency effects, the company said.

In particular, the sale of paint for domestic use rose as the recovery began to be felt in the housing market. Volume sales of specialist coatings for cars, boats and mobile phones also rose but turnover fell because of the strong euro.

‘We are operating in a volatile market, but we managed to increase volumes in all three business areas,’ said chief executive Ton Büchner in a statement.

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