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In the US, revenue was 5 percent below the previous year (in constant currencies), driven by the lower sales volumes in the stores business. The US stores business experienced another challenging quarter, with margin pressure being felt by competitors in most major markets. DIY had a strong quarter compared with the previous year due to higher volumes of Glidden Premium and successful sales promotions on Martin Luther King Day and President’s Day. The rollout of the Martha Stewart Living paint is nearly completed. Advertising and promotion spend is underway in the form of television, mass print and other channels.

Canada achieved a strong volume increase, especially in the retail business. Trade volumes were somewhat slow – especially in the high performance segment. Our sealant and adhesives plant in St Hubert, will be closed towards the end of the year.

During Q1, Latin America reported an increase in revenue driven by volume increases in all countries. We also continued our “Tudo de cor para você” (Everything in color) community program. The initiative involves restoring and repainting the façades of houses situated in traditional neighborhoods of various Brazilian cities.

Copyright © 2010 Akzo Nobel N.V.