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Crown Paints Swings into Profit Following Turnaround

4:40 AM MDT | July 26, 2010 | Natasha Alperowicz

Crown Paints Group (Darwen, U.K.), the largest decorative paints maker in the U.K. and Ireland, reported an operating profit of £2.8 million ($4.3 million) on sales of £179.2 million in the year to December 31, 2009. The company, formerly part of AkzoNobel and now owned by the private equity firm Endless Investments (Leeds, U.K.), says the results are in stark contrast to the £11.4 million loss incurred during the three months' trading to December 31, 2008 against revenues of £37.8 million, following completion of the management buyout of...

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