AMSTERDAM, July 18 Dutch paints and chemicals
group AkzoNobel NV reported lower-than-expected
second-quarter results on Thursday and said full-year operating
income was unlikely to beat last year's level because of higher
charges and continued weak markets.
AkzoNobel, which owns the Dulux paint brand, reported
second-quarter earnings before interest, tax and depreciation
(EBITDA) of 474 million euros ($620.6 million)on revenue of
3.865 billion euros.
Analysts in a poll commissioned by Reuters had expected
EBITDA of 506 million euros and revenue of 3.911 billion euros.
It said its performance improvement program was on track to
be completed in 2013, giving 500 million euros in EBITDA benefit
a year early, and that it is stepping up its restructuring plans
with full-year charges expected to be in the order of 325