Akzo Nobel sees a ‘brutal’ halt in stocking in the second quarter
A Dutch company is facing higher raw material costs
July 20, 2022, 8:52 am UTCUpdated on July 20, 2022, 9:27 am UTC
Akzo Nobel said home improvements have taken a back seat as people are free to leave home again and travel after pandemic lockdowns prompted a wave of do-it-yourself placements.
The Dutch paint giant’s second-quarter earnings fell 26%, missing expectations, also due to ongoing supply chain woes, it said on Wednesday. The shares slipped as much as 4.1% and were 1.4% lower at 11:25 am in Amsterdam trading.
