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Jotun reports higher profits, marine coatings are down

2:01 AM MST | February 14, 2014 | Natasha Alperowicz

Paints maker Jotun (Sandefjord, Norway) today reported a full-year 2013 operating profit of 1.26 billion Norwegian kroner ($206.5 million), a 12% increase compared with 2012.  Profit before tax was 13% higher, at NK1.19 billion. Stable raw material prices, improved product mix and increased focus on the sale of high-quality products in higher margins markets contributed to the positive development in operating profit, the company says. Sales were up 6%, to NK12 billion, CEO Morten Fon tells CW. In 2013, Jotun achieved good growth in decorative paints...

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