Finland's Tikkurila Q3 net profit up 2.8% at €22.6m

07 November 2012 08:03  [Source: ICIS news]

SINGAPORE (ICIS)--Tikkurila’s net profit rose by 2.8% year on year to €22.6m ($29m) in the third quarter of this year, supported by a higher operating profit and favourable exchange rate fluctuations, the Finland-based decorative paints firm said on Wednesday.

The company’s revenue slipped by 0.1% to €191.7m in the third quarter, while its earnings before interest and taxes (EBIT), excluding non-recurring items, rose by 3.8% to €32.2m, the company said in a statement.

For January-September 2012, the company’s net profit rose by 11.4% year on year to €45.1m while sales were up by 4.8% at €550.1m, the company said.

“We expect our reported EBIT to exceed €65m and EBIT excluding non-recurring items to exceed €70m. Reported revenue is expected to exceed €660m," said Erkki Jarvinen, the president and CEO of Tikkurila.

($1 = €0.78)


By: Nurluqman Suratman



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