ICI Paints profits up in third quarter but slowdown in US housing market expected to weigh in final quarter

摘要

ICI Paints delivered a 5% rise in third quarter pretax earnings but warned that weakness in North America was likely to continue into the fourth quarter and lead to lower than last year profits in the final quarter.Earnings before interest and tax from continuing operations at the UK company,which makes Dulux paints,rose to pound 102m (euro 152m/195m)from pound 97m a year ago.Comparable sales grew 3% in the quarter with good volume growth for the decorative business in the UK & Republic of Ireland,Latin America and Asia.However trading in Nortli America was weak.