Akzo Nobel Q3 Profit Climbs, Revenue Slides - Quick Facts

(RTTNews) - Akzo Nobel NV (AKZOY.PK, AKZOY) Tuesday said third-quarter net income attributable to shareholders increased to 205 million euros from 155 million euros, due to higher operating income and lower finance expenses.

Adjusted earnings per share increased 24 percent to 0.92 euro from 0.74 euro.

Revenue declined 2 percent to 3.686 billion euros from 3.778 billion euros last year, with volume growth being offset by negative currency effects and divestments.

Operating income grew 11 percent to 335 million euros from 303 million euros, reflecting the benefits of ongoing operational efficiency programs, although this was partially offset by new restructuring costs in Performance Coatings.

The company also declared an interim dividend of 0.33 euro per share.

Looking ahead, AkzoNobel said it is on track to deliver on its 2015 targets despite the continued fragile economic environment.