AzkoNobel 4Q Net Profit Slumps

By Maarten van Tartwijk

AMSTERDAM--Dutch paint and chemicals company AkzoNobel NV Thursday reported a fourth-quarter net profit of 7 million euros ($8 million) down from a net profit of EUR51 million in the same period a year earlier.

AkzoNobel, whose paint brands include Dulux and Sikkens, said revenue rose 1% to EUR3.52 billion largely because of currency tailwinds. Operating income fell 28% to EUR83 million, but more than tripled to EUR169 million when excluding the impact of special items such as provisions and divestments, the company said.

AkzoNobel said restructuring efforts put it on track to meet its financial targets for 2015, even as last year's results were pressured by a stagnant European economy and a slowdown in parts of Asia and Latin America.

The company declared a dividend of EUR1.45 a share, unchanged from a year earlier.

Write to Maarten van Tartwijk at [e-mail]

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