Paint Maker Akzo Sees Price Hikes Offsetting Middle East Impact
Akzo Nobel relies on several raw materials, including petrochemicals, to make paints.
Photographer: Chris Ratcliffe/BloombergAkzo Nobel NV still expects profitability to improve this year as higher prices for its products offset mounting raw-material costs linked to the conflict in the Middle East.
The Dutch paint maker on Wednesday broadly confirmed its annual guidance for slightly higher operating earnings, saying that its pricing measures will compensate for expected inflation. The company previously announced mid-single digit to low-teens percentage price increases.