Akzo Nobel sees turnover and net profit fall in 2014

Paint and coatings maker Akzo Nobel saw turnover and net profit fall but operating profit rise in 2014, the company announced on Thursday.

Net profit over the year fell 25% to €546m. Turnover was down 2% to €14.3bn, although the company was able to increase the profit margin on its products.

Operating profit rose 20% to €1,072bn, slightly above the expectations of analysts.

‘It was a challenging year,’ CEO Ton Bücher said in a statement. ‘The continuing lack of economic growth in Europe affected our performance, but the company is still on course to achieve our goals for 2015.’

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