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AkzoNobel headquarters

Update Cost-cutting drives increased Akzo Q2 profit

LONDON (ICIS)--AkzoNobel’s net income for the second quarter of the year jumped 11% despite a drop in sales, the Netherlands-headquartered paints and coatings specialist said on Tuesday, as its long-running cost and efficiency programme starts to bear fruit.

Return on sales improved to 9.5% compared to 8.3% in the second quarter of 2013, helping to drive increased earnings and profit despite a 4% year-on-year drop in sales to €3.7bn on the back of currency effects, the company said.

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