Akzo Nobel profit boosted by Organon unit sale, revenue up

LONDON (MarketWatch) - Dutch chemicals firm Azko Nobel said Thursday that fourth-quarter net income surged to 8.5 billion euros, from 230 million euros a year ago, boosted by the sale of its Organon BioSciences division. Revenue climbed 2% to 2.4 billion euros, after notable contributions from emerging markets. The company said that ongoing pressure from raw material prices, volatility in major currencies and a slowdown in overall growth in North America and Europe will make for a testing environment. However, t’s confident that its strategic transformation after the purchase of ICI has maneuvered the company into a position of strength.

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