High 3rd Qtr Net Income For Akzo

Dutch chemicals group Akzo Nobel has posted net income of 455 millionguilders ($230.3 million) for the third quarter ended September, 1997, up 38.7% on the same period a year ago. Overall group sales reached 6.1 billion guilders, an increase of 11%, which was caused by volume gains and currency movements.

Pharmaceuticals, which contributed around 19.5% of total revenues, produced sales of 1.18 guilders, an increase of 23%, with operating income rising almost 30%. The boost in operating income was due to the strong performance of the group's subsidiary, Organon, which posted volume gains for oral contraceptives and the antidepressant Remeron (mirtazapine). All its other sectors, most notably chemicals, performed strongly.