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Markets :: Specialty Chemicals :: Paints and Coatings

AkzoNobel's Fourth-Quarter Results Return to a Profit

9:46 AM MST | February 18, 2011 | Kerri Walsh

 AkzoNobel's fourth-quarter net income returned to a profit on improved volumes, especially in emerging markets. Net income was €162 million ($220 million), compared to a year-ago loss of €60 million, which included restructuring charges of €142 million. Sales jumped 17%, to €3.6 billion. Ebit before incidentals fell 3%, to €222 million, but Ebitda rose 3%, to €367 million. Selling price increases and improved volumes were not enough to completely offset rising raw material costs, the company says. Volumes rose 3%...

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