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Akzonobel: praised for raising annual targets

( - AkzoNobel shares are up over 3% in Amsterdam today after the group raised its adjusted EBITDA guidance for FY 2023 to between E1.
4bn and E1.55bn, compared with the previous forecast range of E1.2bn and E1.5bn provided three months ago.

The Dutch paints and coatings supplier has reported Q2 2023 adjusted operating profit that is up 25% at E311m, representing a 2.6-point improvement in its margin to 11.3%.

At E2.74bn, sales fell by 4% due to negative currency effects, without which they would have risen 3%. Growth was mainly driven by price and mix effects, which more than offset a slight fall in volumes.

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