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Akzo’s Net Income Falls on Decorative Paint, Unfavorable Currency Exchange Rates; DSM's Profits Soar on Strong Nutrition Results (update)

5:42 AM MDT | July 29, 2008 | Kerri Walsh

Akzo Nobel reported second-quarter net income down 18%, to €184 million ($289 million), on sales up 2%, to €3.9 billion. “AkzoNobel showed a resilient performance to the changing world economy in the first half of the year,” says CFO Keith Nichols. “Our strong fundamentals are a proof point of our major transformation, while we have benefited from our geographic spread. Various management initiatives designed to achieve growth in revenue and profits and careful control of our cost base have protected our margins.” Decorative paint income fell 2%, to...

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