AkzoNobel beats Q2 consensus despite currency headwinds

Dutch paint and chemicals maker AkzoNobel on Tuesday posted core earnings that were slightly ahead of consensus forecasts for the second quarter, despite strong currency headwinds and deflationary pressures.

The company made earnings before income and tax of 491 million euros ($543.73 million), ahead of the 463.4 million euros forecast by analysts, off revenues of 3.9 million euros, which was also ahead of the 3.8 billion consensus forecast.

Results in the quarter were marked by currency volatility, including for the British pound. The company, heir to the bulk of former British industrial giant ICI, said after Britain's vote to leave the European Union that it would continue investing in the country.

An employee walks through the Akzo Nobel NV paint production facility in Sassenheim, Netherlands.
Jock Fistick | Bloomberg | Getty Images
An employee walks through the Akzo Nobel NV paint production facility in Sassenheim, Netherlands.

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