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| Akzo Nobel posts 29% rise in net income Dutch paints and chemicals giant Akzo Nobel has reported 5% autonomous growth and a 29% rise in net income before incidentals for 2007. Revenue for the year amounted to EUR 10.2 billion, up 2% on 2006. Autonomous growth was 5%, with both Coatings and Chemicals contributing to the 2% volume growth and 3% selling price increase. EBITDA before incidentals improved 15% to EUR 1, 271 million, with both Coatings and Chemicals contributing – highlighting the underlying strength of the company – while the EBITDA margin rose to 12.4% (2006: 11.0%). Akzo Nobel's dividend has been increased from EUR 1.20 to EUR 1.80 per common share, up 50%. Dividends from 2008 onwards will be a minimum of 45% payout ratio of net income before incidentals and the fair value adjustment charge related to the ICI acquisition. Fourth quarter revenue amounted to EUR 2.4 billion, up 2% on 2006. write your comments about the article :: © 2008 Construction News :: home page |