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Revenue increased 7 percent (10 percent in constant currencies). All countries in Asia contributed to this growth. However the pace of growth in Asia decelerated in the third quarter.

Revenue in China grew by 2 percent (3 percent in constant currencies) in the third quarter. Compared to the second quarter, the growth rate declined due to a slowing in the Chinese property market. The volume of property transactions declined sharply as a result of a series of Chinese government tightening measures to curb property prices. In the third quarter, we opened or upgraded about 200 Dulux stores and launched integrated campaigns for several new products including Forest Breath and VOC Free. Let’s Colour was also a key campaign to build the brand image and inspire customers to redecorate their houses and offices.

In South East Asia and Pacific, revenue increased by 8 percent versus 2010 (11 percent in constant currencies). Strong revenue growth was achieved in most key markets except for Vietnam, which was negatively affected by its weakening economic situation. Margin management offset most increases in raw material prices and adverse mix effects. The region continues to invest in brands, people and tinting machines to generate top-line growth.

Growth in India continued to be strong at 19 percent in the third quarter (24 percent in constant currencies) due to high demand and strong pricing.

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