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In Europe, revenue was up 3 percent (up 4 percent in constant currencies). Revenue was driven by higher volume development but adversely impacted by product and country mix. Performance across the business varied, with continued strong performance in Turkey, Russia and Building Adhesives, as well as a partial recovery in the UK on the back of strong promotional activities. However, in the Southern European markets, margins were weaker due to increased variable cost inflation and adverse product mix. Additional price increases have been and will continue to be implemented in the fourth quarter.

Copyright © 2011 Akzo Nobel N.V.