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Markets :: Specialty Chemicals :: Paints and Coatings

Tikkurila posts record third-quarter profitability

10:48 AM MST | November 7, 2013 | Michael Ravenscroft

Paints and coatings company Tikkurila (Helsinki) says "its profitability was at a record-high level in third-quarter 2013." Ebit before non-recurring items was €33.3 million ($45.0 million), up 5.4% year-on-year (YoY). Ebit margin was 17.6%, compared with 16.8% for the corresponding period a year ago. Net profit was €24.4 million, compared with €22.6 million for third-quarter 2012, an increase of 8%. Revenue fell by 1%, to €189.6 million. Earnings per share rose 7.8% YoY, to €0.55. "Our profitability was at a record-high...

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