The Dutch company said quarterly organic sales fell 11% in Asia largely due to competitive pricing in China.
AMSTERDAM: AkzoNobel has missed expectations for third quarter sales and core profit, hit by weak consumer demand and lower pricing in China, and as the Dulux paints maker continued to implement its cost-cutting plan.
“Our business in China is doing really well on the industrial side and it is doing pretty badly on the consumer side,” finance chief Maarten de Vries said during a press call.
