Akzo Nobel fourth quarter operating income falls as currency effects weigh

Akzo Nobel NV reported on Wednesday a 12 percent drop in fourth-quarter operating income excluding incidental items (EBIT) as negative currency effects offset volume growth in its decorative paints and specialty chemicals divisions.

The company reported fourth quarter operating income excluding incidental items of 235 million euros on revenue of 3.46 billion euros.

Analysts who contributed to Reuters poll had seen fourth quarter revenues at 3.50 billion euros and operating income excluding incidental items at 252
million euros.

The Dutch paints and coatings company confirmed its financial guidance for 2016-2018.