Akzo Nobel beats on Q1 operating profit, sees 2017 growth

AkzoNobel unveils new growth strategy

Akzo Nobel, the Dutch paint-maker struggling to avoid a 24.6 billion euro ($26.4 billion) takeover by U.S. rival PPG Industries Inc, on Wednesday reported better than expected operating profit for the first quarter.

Operating profit was up 13 percent to 376 million euros from 334 million euros in the same period a year earlier. Analysts polled for Reuters had put the figure at 337 million euros.

Akzo is due to release details of its plan to sell its chemicals division and remain independent later on Wednesday.

AkzoNobel reports record profitability in first quarter