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People & Business :: Companies
Tikkurila Records Losses, but Increased Prices Boost Sales
6:52 AM MDT | April 26, 2012 | Sotirios Frantzanas
Tikkurila (Vantaa, Finland), a paints and coatings company, recorded net losses of €500,000 ($660,738) in the first quarter of 2012, compared with net profits of €1.5 million in the same quarter of 2011. Sales, however, went up 10.7% year over year, to €148.9 million partly because of a slight increase in consumer confidence in the company's key markets, but mostly due to price increases that were implemented last year to compensate for raw material cost inflation, Tikkurila says. Of the company's key markets only Russia maintained its volume...
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