March 8, 2018 / 6:17 AM / 8 months ago

Akzo Nobel expects headwinds from material costs in 2018

AMSTERDAM, March 8 (Reuters) - Dutch paints and coatings maker Akzo Nobel on Thursday said it expects rising raw material costs and adverse currency effects to remain headwinds in 2018, as the company plans to increase prices and cut costs.

The maker of Dulux paint, which plans to spin off its chemicals division, confirmed preliminary results for 2017, which showed virtually flat earnings before interest and tax (EBIT) at 1.53 billion euros ($1.90 billion), while revenue increased 3 percent to 14.6 billion euros.

$1 = 0.8061 euros Reporting by Bart Meijer, Editing by Sherry Jacob-Phillips

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