AkzoNobel: stock soars after Q3 results
(CercleFinance.com) - The AkzoNobel share is up 3.
8% in Amsterdam today, following the group's publication of Q3 2018 net income that is up 39% at 301 million euros for the first quarter of 2018, with adjusted operating profit that is up 8% at 243 million euros.
The Dutch chemist's revenues are actually down 4% at 2.33 billion euros, mainly stemming from FX factors (results are stable at constant exchange rates). Positive mix and price effects offset a decline in volumes.
"We are taking the next step in our transformation to deliver the next E200 million cost savings by 2020, incurring total one-off costs of E350 million between 2018 and 2020," said CEO Thierry Vanlancker.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
8% in Amsterdam today, following the group's publication of Q3 2018 net income that is up 39% at 301 million euros for the first quarter of 2018, with adjusted operating profit that is up 8% at 243 million euros.
The Dutch chemist's revenues are actually down 4% at 2.33 billion euros, mainly stemming from FX factors (results are stable at constant exchange rates). Positive mix and price effects offset a decline in volumes.
"We are taking the next step in our transformation to deliver the next E200 million cost savings by 2020, incurring total one-off costs of E350 million between 2018 and 2020," said CEO Thierry Vanlancker.
Copyright (c) 2018 CercleFinance.com. All rights reserved.