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AkzoNobel reports higher net income on lower sales, does not see early improvement in end-user markets
8:42 AM MDT | October 21, 2013 | Natasha Alperowicz
AkzoNobel today reported a 41% increase in third-quarter net income on lower revenues, mainly due to adverse currency effects and divestments. Net income rose 41% to €155 million ($212.1 million) but revenues declined 5% to €3.78 billion. Lower restructuring costs and higher volumes helped push third-quarter operating income by 22% to €303 million. Ebitda was up 7% to €456 million, and return on sales rose from 6.3% in the third quarter of 2012 to 8% in the corresponding period of this year. AkzoNobel during the third quarter divested...
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