Divestments, currency effects cut Akzo Nobel sales 5%
Paint and coatings giant Akzo Nobel booked a 5% drop in sales in the third quarter of 2013 but net profit was up 41% at €155m.
The reduction in turnover to €3.8bn was due largely to the sale of units and currency effects, the world’s biggest paint maker said in a statement.
‘The trading environment behind these results has not changed in that demand remains soft and on a comparative basis Q3 last year was particularly weak,’ chief financial officer Keith Nichols said.
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