AkzoNobel Q2 core profit beats expectations

AMSTERDAM, July 23 Wed Jul 23, 2014 1:20am EDT

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AMSTERDAM, July 23 (Reuters) - AkzoNobel reported higher-than-expected second-quarter earnings on Wednesday, helped by growth in its decorative paints business in Asia and Europe.

The Dutch paints and chemicals firm also said it remained on track to meet its 2015 targets despite a fragile economic environment and a strong euro.

AkzoNobel reported 7 percent higher quarterly earnings before interest, tax depreciation and amortization (EBITDA) of 509 million euros ($685.27 million) while revenue fell 4 percent to 3.71 billion euros.

Analysts in a poll commissioned by Reuters had forecast EBITDA of 482 million euros on sales of 3.82 billion euros. ($1 = 0.7428 Euros) (Reporting by Harro ten Wolde; Editing by Miral Fahmy)

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