08 January 2014 07:32 [Source: ICIS news]
SINGAPORE (ICIS)--Netherlands-based coatings major AkzoNobel said on Wednesday its full-year 2013 operating income before incidental items is unlikely to exceed €908m, with trading in the fourth quarter in line with previous trends amid a challenging economic environment.
The company completed the sale of its building adhesives business in the fourth quarter of 2013, which will result in an incidental profit of around €200m, it said in a statement.
However, this is expected to be largely offset by additional incidental charges, including a non-cash write-down in its specialty chemicals business, among others, AkzoNobel said.
“We remain confident in the delivery of our 2015 targets,” it added.
AkzoNobel’s fourth-quarter 2013 results will be released on 6 February.
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