Akzo Nobel: We're a `Naturally Hedged' Business in U.K.
Akzo Nobel NV announced profit that beat estimates for a fifth straight quarter, a sign Chief Executive Officer Ton Buechner’s strategy of squeezing more efficiency from the European paint and chemical maker still has more to deliver. Operating profit excluding one-time items rose 9 percent to 491 million euros ($543 million), the Amsterdam-based maker of Dulux paint said in a statement on Tuesday. Analysts surveyed by Bloomberg had estimated 470 million euros, on average. Revenue fell by 6 percent to 3.71 billion euros, short of predictions, held back by currency headwinds. CEO Ton Buechner discusses performance with Bloomberg's Anna Edwards and Manus Cranny on "Countdown."
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