AMSTERDAM, April 19 AkzoNobel NV, the
world's largest paints maker and owner of the Dulux brand, on
Thursday reported first-quarter earnings before interest, tax
and depreciation (EBITDA) of 423 million euros, beating
It reported a first-quarter net profit of 70 million euros
from continuing operations, and revenue of 3.972 billion euros.
Analysts in a poll commissioned by Reuters had forecast
EBITDA before incidentals of 385 million euros and a net profit
of 67.3 million euros, on revenue of 3.883 billion euros.
AkzoNobel's U.S. peers have both issued bullish outlooks
recently. Chemical-maker PPG Industries Inc forecast
first-quarter profit above Wall Street expectations on April 5,
and said it would lay off 2,000 workers, mostly in Europe, due
to weak demand.
Top U.S. paints maker Sherwin-Williams Co on April 9
raised its earnings outlook for the first quarter, helped mainly
by strong sales at its retail business segment.