Akzo Nobel Q3 results disappoint analysts

Dutch paint and chemical company Akzo Nobel reported on Tuesday that its third quarter profit, before interest and tax, was up 11% on the same period last year to €244m.

The result was below analysts’ expectations of €255m, reports ANP news service.
The company’s turnover in the third quarter was 2% higher at €2.6bn due largely to autonomous growth of 5%.
The chemical division performed particularly well with a 5% increase in turnover while the paints unit booked a 3% increase.

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