Akzo Nobel N.V. (AKZA; AKZOY) provided a further update on recent business performance and announces preliminary financial results for the second quarter of 2020:
Revenue 19% lower at €1,987 million ($2.265 million) (2019: €2,451 million)- Adjusted operating income of €238 million ($271 million) (2019: €305 million)
- Adjusted operating income as a percentage of revenue, excluding unallocated cost, increased to 14% (2019: 13.7%)
According to the company, market headwinds continued to ease during the second quarter, although revenue for June was nearly 5% lower than the same month in 2019. As previously announced, revenue for May was around 20% lower than
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