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Akzo Nobel improves Q3 profit by 8% despite raw material inflation

Chief Executive Thierry Vanlancker said raw material inflation was expected to continue in the remainder of 2018

Akzo Nobel

Reuters  |  Amsterdam 

Dutch paints and coatings maker Akzo Nobel improved its third quarter operating profit by some eight per cent despite the impact from raw material inflation, which it said on Wednesday had peaked.   More expensive materials such as oil left Akzo Nobel struggling in the first half of this year, after a stand-off with disgruntled shareholders in 2017 over a rejected 26 billion euros ($30 billion) takeover offer from rival PPG Industries. But the company managed to offset rising input costs in the third quarter, by charging higher prices to customers and reducing costs ...

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First Published: Wed, October 17 2018. 15:04 IST