Akzo Nobel's sales hit by weak pound

Akzo Nobel's sales hit by weak pound
 

Akzo Nobel, the Dutch coatings and paints maker, reported a 4 percent slide in quarterly sales on Wednesday, in line with market expectations, citing pricing pressures and the drop in the value of sterling.
Akzo, which bought British rival ICI eight years ago, said its earnings before interest and taxation (EBIT) rose 1 percent to 442 million euros (395.76 million pounds), while sales fell 4 percent to 3.6 billion euros.
Ten analysts polled for Reuters had expected an average (EBIT) of 435 million euros and sales of 3.6 billion euros.
"We expect to see continued currency headwinds in... read more

 
19 October 2016 in Business, Views: 43
Source: Reuters
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