AkzoNobel: announces forecasts below consensus
(CercleFinance.com) - On Wednesday AkzoNobel reported Q3 numbers amid high macroeconomic uncertainty and a near-historic decline in consumer confidence.
The Dutch paint and coatings specialist said expected adjusted operating profit of 195-215 million euros at the end of the current quarter.
This target is well below the consensus, which was previously looking for operating profit of 288 million euros.
In reaction to this, the share price fell by over 1% in Amsterdam on Wednesday morning.
According to the group, current trends affecting demand are expected to continue into Q4, although they should be offset by initiatives to reduce costs and increase prices.
Copyright (c) 2022 CercleFinance.com. All rights reserved.
The Dutch paint and coatings specialist said expected adjusted operating profit of 195-215 million euros at the end of the current quarter.
This target is well below the consensus, which was previously looking for operating profit of 288 million euros.
In reaction to this, the share price fell by over 1% in Amsterdam on Wednesday morning.
According to the group, current trends affecting demand are expected to continue into Q4, although they should be offset by initiatives to reduce costs and increase prices.
Copyright (c) 2022 CercleFinance.com. All rights reserved.