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AkzoNobel Posts Higher Second-Quarter Profits; Hits Margin Target Ahead of Plan

6:10 AM MDT | July 23, 2010 | Natasha Alperowicz

AkzoNobel reported second quarter Ebitda of €614 million($789 million), 21% up on the corresponding period in 2009, on sales 13% higher at €3.9 billion. Net income was up 76% at €273 million. AkzoNobel's Ebitda margin of 15.7% in the second quarter of 2010 compares with 14.7% in the 2009 period and represents an "early achievement of the 14% Ebitda margin target set for the end of 2011." The company says that it achieved strong revenue gains in the higher growth markets in all business areas. Decorative paints revenue was up 8% to...

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