AkzoNobel: stock upbeat after preliminary results
(CercleFinance.com) - The AkzoNobel share is up over 3% in Amsterdam on Monday morning, following the chemical company's publication of its preliminary Q2 results, marked by adjusted operating profit of 238 million euros, against 305 million euros a year ago.
Excluding so called "unallocated" costs its operating margin improved by 0.3 point to 14% for revenues that are down 19% at 1.99 billion euros, although this fall only reached 5% for the month of June, compared to around 20% in May and nearly 30% in April.
The Dutch group reported different trends across businesses and regions, including a strong rebound in demand for decorative paints in Europe, which was faster than what it expected.
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Excluding so called "unallocated" costs its operating margin improved by 0.3 point to 14% for revenues that are down 19% at 1.99 billion euros, although this fall only reached 5% for the month of June, compared to around 20% in May and nearly 30% in April.
The Dutch group reported different trends across businesses and regions, including a strong rebound in demand for decorative paints in Europe, which was faster than what it expected.
Copyright (c) 2020 CercleFinance.com. All rights reserved.