SANDEFJORD, Norway – Jotun, Sandefjord, Norway, reported that the company’s operating revenues and profits reached record levels in 2010, a result of volume increases in all of its segments and strong performances in high-growth markets. The company reported operating revenues of NOK 12.0 billion in 2010, up from NOK 11.2 billion the previous year, while operating profit rose to NOK 1.34 billion in 2010, from NOK 1.16 billion in 2009.
Jotun sold 10 percent more paint in 2010 than in the previous year. The company’s strategy of operating across a range of market segments and geographical regions continues to deliver positive results, as strong sales in parts of Asia and the Middle East offset slower sales in Europe and the United States.
Morten Fon, Jotun’s President and CEO, said, “We are pleased with Jotun’s performance in 2010, which exceeded our initial expectations. During the year, we took the steps necessary to actively manage changes and align our growth strategy more closely with local economic conditions. This approach, coupled with the dedication and hard work of Jotun employees, proved to be successful.”