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Asia


Our businesses in Asia continued their strong performance. Revenue increased 19 percent from Q2 2010 (26 percent in constant currencies). All countries in Asia contributed to this growth. Revenue in China grew by 26 percent (32 percent in constant currencies) as a result of our successful roll out in selected Tier 2 and Tier 3 cities. Our mid-tier range products have enjoyed the highest growth rate – 57 percent – among all product segments. We opened and upgraded about 280 Dulux stores in the second quarter. Prices were increased in April to partly mitigate raw material inflation. The central government has launched a series of measures to curb rising property prices and the market outlook for a number of coastal cities in the second half year is still uncertain. We will, however, continue to accelerate our brand building and channel development to fully capture the growth potential in the medium- to long-term. In South East Asia and Pacific, revenue increased versus 2010 by 14 percent (22 percent in constant currencies). Strong double-digit revenue growth was achieved in most key markets. Margin management offset increased raw material prices and adverse mix effect from successful non-premium expansion. The region continues its investment in brands, people and tinting to generate top-line growth. Growth in India continued to be very strong at 12 percent in the second quarter (22 percent in constant currencies) due to high demand and price developments.

Copyright © 2011 Akzo Nobel N.V.