Chemical Group Kemira has forecast higher revenues in its paint and coatings segment in the second half of the year due to demand and a boost from recently acquired Russian paint firm Kraski Teks, which added three percent to organic revenue growth in paints and coatings in the second quarter.
Operating profit within the segment for the April to June period climbed by 24% to €25 million. Revenues jumped by 23% to €170 million with most of this increase from decorative coatings. Revenues from the industrial coatings unit were slightly depressed because of the divestment of the coil coating business in November 2005.
For the first six months of the year operating profit within paints and coatings increased 21% to €34.6 million, including non-recurring income of €3.3 million, while revenues grew 22% to €288.9 million.