AMSTERDAM, The Netherlands- Akzo Nobel N.V. (AkzoNobel) reported a four percent decrease in revenues in the second quarter compared with the same period last year. Operating income for the second quarter was 17 percent lower at EUR 322 million. Net income attributable to shareholders for the quarter rose to EUR 429 million, buoyed by recognition of a deferred tax asset and profit on the divestment of the company’s North American decorative paints business.
In the company’s Decorative Paints segment, second-quarter revenue declined one percent, mainly due to negative price mix and unfavorable currency effects. Volumes stabilized in some markets, in particular China, making a positive contribution in the quarter. Operating income for the second quarter totaled EUR 102 million, nine percent lower than the previous year, mainly as a result of restructuring costs in mature markets.