Akzo Nobel issues Q2 profit warning
Coatings giant AkzoNobel on Monday issued a profit warning, saying its second quarter results will be ‘adversely impacted’ by rising raw material prices.
The company says year on year material prices have gone up by around 20%.
In addition, ‘softness of demand in our mature markets and prolonged maintenance stops within Specialty Chemicals will also impact results in the second quarter’, the company said in a trading update.
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