Financial News

ICI reports growth in UK and Asia

October 20, 2006

First half revenues were up ten percent to €1.8 billion for ICI’s paint business as sales grew strongly in the UK and Asia, but were down in continental Europe where retail markets were weak. Decorative paint sales in the UK and Ireland were up eight percent. In continental Europe sales were down four percent. Weak performances in France and Germany were partly offset by growth in Poland and other countries.
Decorative sales in North America were up five percent, with U.S. growth offsetting Canadian weakness.
In Asia, sales rose 12% in the first half of the year, with volume up in China, India, Pakistan and Vietnam.
Brazil helped pull Latin America sales up by four percent, and profit was up significantly.
Sales in the packaging coatings business were up ten percent with demand very strong in Latin America.