Core profit of Akzo Nobel jumps 41% in Q2 FY22

22 Jul 2021 CW Team

Akzo Nobel, a Dutch multinational corporation, increased its core profit by 41% to ₤335 million in the second quarter as demands and cost-cutting measures helped offset a rise in raw material prices.

Analysts polled by the Amsterdam-based company expected adjusted operating income to rise to ₤346.9 million from ₤238 million in 2020.

Following a steep drop in demand due to the coronavirus crisis last year, Akzo Nobel, a global decorative paints and industrial coatings maker, reported a recovery in demand.

Sales increased by 26% to ₤2.51 billion in April-June, slightly exceeding the average analyst forecast of ₤2.44 billion.

In light of ongoing raw material inflation, Thierry Vanlancker, Chief Executive Officer of Akzo Nobel, said in a statement that the company is continuing to take firm and necessary actions on pricing initiatives and cost discipline while remaining focused on serving customers.

From 2021 to 2023, Akzo Nobel expects to grow in line with its relevant markets, delivering a mean annual 50 basis point increase reciprocally on sales.

PPG Industries, the main competitor of Akzo Nobel in the United States, reported lower-than-expected quarterly earnings this week, blaming higher raw material costs on Covid supply chain disruptions.

Image Source

Also read: Asian Paints Q1 FY22 profit doubles to Rs 574.30 crore

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..