Akzo Nobel 3Q Profit Up; Sees Continued Raw Material Inflation

By Carlo Martuscelli

Akzo Nobel NV (AKZA.AE) said Wednesday that third-quarter net income from continuing operations rose 23% as costs fell and that it sees continued raw-material inflation for the rest of the year.

The company said that net income from continuing operations was 149 million euros ($172.5 million) for the quarter, compared with EUR121 million the year-before period. Revenue from continuing operations decreased 3.8% to EUR2.33 billion, missing the company-provided consensus forecast of EUR2.43 billion, but was flat at constant currency. General and administrative expenses fell 7.3% to EUR763 million, it said.

Akzo Nobel said that volumes decreased 6% as the company focused on value.

The Dutch paints company declared an interim dividend of EUR0.37 pence.

"Raw material inflation is projected to continue for the remainder of 2018, although at a slower rate than during the start of the year," Akzo Nobel said.

Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com

(END) Dow Jones Newswires

October 17, 2018 01:43 ET (05:43 GMT)

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