AkzoNobel posts gains despite lower volume in second quarter

摘要

Currency movements and price increases helped AkzoNobel overcome weak or declining volume to post second quarter revenue increases in its performance and decorative coatings divisions. Performance coatings, led by strong revenue growth in the marine/protective and industrial segments, posted a 12% second quarter revenue gain to ?1.47 billion despite an underlying volume decline of 2%, lifting operating profit 10% to ?171 million. For the first half, revenue was up 11% to ?2.84 billion and operating profit by 14% to ?298 million. But while decorative paints managed to lift revenue in the quarter by 6% to ?1.55 billion, operating income slumped by a fifth to ?110 million, leaving profit for the half year to end-June down 44% at just ?95 million. For the half, divisional revenue was up 5% to ?2.79 billion.