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Markets :: Specialty Chemicals :: Paints and Coatings

Tikkurila Reports Increased Net Profits, Reiterates 2012 Outlook

8:18 AM MDT | August 2, 2012 | Sotirios Frantzanas

Tikkurila (Vantaa, Finland), a paints and coatings company, says net profits in the second quarter of 2012 increased 35.2%, to €23 million ($28 million) compared with €17 million in the second quarter of 2011. Sales also increased 5.6% year over year, to €209.5 million mainly due to increases in selling prices, which were implemented to compensate for higher raw material costs, the company says. Tikkurila's operating profits increased 21.3% in the second quarter of 2012, to €33.3 million due to sales growth and streamlining...

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