Akzo Nobel Q2 Net Income Surges

(RTTNews) - Dutch paints and chemicals maker Akzo Nobel N.V. (AKZA.AS; AKZOY) Wednesday reported a surge in its net income from total operations for the second quarter, with revenues 26 percent higher than last year, reflecting strong end market demand.

For the second quarter, the Group's net income from total operations rose by 102 percent to 261 million euros from last year's 129 million euros. On a per share basis, earnings from total operations grew by 106 percent to 1.40 euros, while adjusted earnings from continuing operations was up 50 percent at 1.20 euros.

Operating income for the quarter increased 86 percent to 384 million euros, and operating margin improved to 15.3 percent from 10.4 percent. Adjusted operating income rose by 41 percent to 335 million euros.

The Group's revenue rose 26 percent to 2.51 billion euros, while it grew 29 percent at constant currency, with volumes up 26 percent, mainly due to strong end market demand.