AkzoNobel Issues Profit Warning; 2011 Ebitda Target Unlikely to be Reached

AkzoNobel issued a profit warning today that it will not be able to reach an Ebitda increase of 5% for the full year in 2011 but its sales targets are on track. “Revenue development year-to-date has met the company's expectations [but second quarter] results will be adversely impacted by ongoing challenging trading conditions and one-off factors,” the company says. Recent performance has continued to be impacted by further raw material price inflation in the second quarter and, as a result, sequential second quarter contribution margins are...

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