Core profit of Akzo Nobel jumps 41% in Q2 FY22
Paint

Core profit of Akzo Nobel jumps 41% in Q2 FY22

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

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

Next Story
Infrastructure Urban

The Variation Challenge

A variation or change in scope clause is defined in construction contracts to take care of situations arising from change in the defined scope of work. Such changes may arise due to factors such as additions or deletions in the scope of work, modifications in the type, grade or specifications of materials, alterations in specifications or drawings, and acts or omissions of other contractors. Further, ineffective planning, inadequate investigations or surveys and requests from the employer or those within the project’s area of influence can contribute to changes in the scope of work. Ext..

Next Story
Infrastructure Urban

India Spent Rs 1.5 Tn on Smart Cities in Past 10 Years

The Indian government launched the Smart Cities Mission on June 15, 2015, with the goal of transforming urban infrastructure across the country. As of April 11, 2025, ten years since its inception, over Rs 1.5 trillion has been spent on 7,504 completed projects, representing 94 per cent of the total planned projects valued at more than Rs 1.64 trillion. An additional Rs 131.42 billion worth of projects are currently under implementation. According to data from SBI Research, 92 per cent of the funds were utilised across 21 major states, with Uttar Pradesh, Tamil Nadu, and Maharashtra together ..

Next Story
Infrastructure Energy

Hyundai’s EcoGram Converts Gurugram’s Waste to Clean Energy

Hyundai’s EcoGram, a biogas plant and material recovery facility located in Gurugram, Haryana, has been established to support circular economy initiatives. The facility collects both wet and dry waste from 20 bulk waste generators, including residential welfare associations (RWAs), corporate offices, and commercial complexes, with assistance from the Municipal Corporation of Gurugram (MCG). At the facility, the collected waste undergoes processing—wet waste is converted into biogas, which is then used to generate electricity, while dry waste is sorted for recycling. Since its inception,..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?