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Tikkurila reports good first-quarter profitability despite weak market development

1:09 PM MDT | April 25, 2013 | Michael Ravenscroft

Tikkurila (Helsinki), the former paints and coatings subsidiary of Kemira, says revenue for the first quarter of 2013 decreased by 6.9%, to €138.4 million ($181.2 million), compared with revenue of €148.6 million in the first quarter of 2012. (Ebit) excluding nonrecurring items was €10.1 million, up 0.6% on the prior-year period. Earnings per share slipped by 0.01%, to €0.15, compared with the first quarter of 2012. "The economic situation in Europe continued to be extremely challenging at the beginning of the year," says Erkki...

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