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AkzoNobel reports decline in second-quarter results, accelerates restructuring program

11:56 PM MDT | July 17, 2013 | Natasha Alperowicz

AkzoNobel today reported a 4% decline in revenues in the second quarter to €3.87 billion ($5.06 billion) compared with the same period last year citing divestments and adverse currencies against a backdrop of continued challenging market conditions. Operating income was 17% lower at €322 million and Ebitda was down 14% at €474 million. Net income attributable to shareholders rose to €429 million, buoyed by recognition of a deferred tax asset and profit on the divestment of decorative paints in North America. The acceleration of AkzoNobel's...

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