AkzoNobel’s Profits Decline on Weak End-Markets

Wijers: World renowned brands. AkzoNobel reported a major drop in net profits for the first quarter of this year, citing weaker end-markets and cost inflation. Net income from continuing operations slid to €70 million ($91.7 million) from €132 million in the first quarter of 2011. Ebitda was 3% lower at €423 million. Revenues were up 6%, to €3.97 billion, driven mainly by price hikes. Adjusted earnings per share were €0.63 compared with €0.72 in the year-earlier quarter. The company reported a drop in Ebitda margins to 10.6%, from...

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