Net Income Up 2.4% At Akzo Nobel

In the first three months of 1997, Dutch company Akzo Nobel achieved anincrease in net income of 2.4% to 340 million guilders ($174.4 million). Sales were 5.8 billion guilders, up 3.5%. Net income per share was 4.78 guilders, compared with 4.67 guilders, in the 1996 first quarter.

Akzo said that currency translations had a positive effect of 5% on sales, while acquisitions and divestments on balance reduced sales by 1%. Lower average selling prices translated into a decrease of 2%.

The firm's pharmaceutical business achieved turnover of just over 1 billion guilders, a rise of 6.9%. The division's operating income was 198 million guilders, up 8.2%. Organon, Akzo's pharmaceutical unit, continues with its product launching activities, the firm said.