AMSTERDAM (AFX) - Akzo Nobel NV has reported a third-quarter net profit which beat all market expectations, while sales and operating profit were at the top end of analyst estimates.
The Dutch chemicals, paints and pharmaceuticals company did not provide any news update on a possible IPO of its Organon BioSciences division.
Net profit was 313 mln eur, up from 175 mln a year ago and besting analyst expectations of 241-242 mln. Sales were 3.449 bln eur, up from 3.299 bln and at the top-end of the 3.301-3.499 bln range anticipated by analysts
Operating profit was 364 mln eur from 315 mln and within the 337-375 mln eur predicted by analysts.
Akzo Nobel reiterated its earlier full-year outlook by saying that it expects 'revenue growth and increased operational results at all segments'. kaj.leers@afxnews.com kel/tc COPYRIGHT Copyright AFX News Limited 2006. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited