Profits Lower At Akzo Nobel In 1st Qtr
Akzo Nobel of the Netherlands saw a 9% decline in net income before extraordinary items to 332 million guilders ($194.3 million) in the first quarter of 1996. Earnings per share were 4.67 guilders, down 9.1%. Sales for the quarter were 5.6 billion guilders, up 1% on the like, year-earlier period.
The pharmaceutical division was said to have achieved volume gains for most business units. Pharmaceutical operating income was slightly higher than in the 1995 first quarter, despite the negative effects of the scientific dispute concerning oral contraceptives (Marketletters passim), the company noted. The firm's chemical division experienced a pronounced earnings slump.
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