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)
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