Akzo Nobel H1 boosted by pharma sales

01 September 1998 00:00  [Source: PCE]

Dutch group Akzo Nobel said that strong pharmaceutical sales helped boost its net income 12% to Dfl893m ($445m) for the first half of 1998.

Half-year net sales rose 4% to Dfl12.5bn and operating income for the group rose 11% to Dfl1.35bn.

However, Akzo said that even excluding any effects from its Courtaulds acquisition, it expects lower growth earnings in the second half.

The pharmaceuticals division saw a 17% increase in operating income to Dfl506m for the half year. Sales were up 16% to Dfl2.52bn. In coatings, operating income rose 12% to Dfl421m and sales increased 9% to Dfl4.57bn.

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