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AkzoNobel reports earnings improvement, continues with restructuring measures

1:08 AM MST | February 6, 2014 | Natasha Alperowicz

AkzoNobel today reported an increase in profits in the fourth quarter and full-year 2013 on lower sales due to adverse currency effects and divestments. Fourth-quarter net income reached €51 million ($68.97 million) compared with a €27 million loss in the year-earlier period. Fourth-quarter revenues declined 5% to €3.48 billion. Ebitda was flat at €208 million while return on sales (ROS) was 3.3% compared with 1% in the fourth quarter of 2012. Full-year net income rose 88% to €724 million on 5% lower revenue of €14.59 billion...

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