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Akzo Nobel misses Q4 core profit forecast due to raw material costs -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO: The logo of AkzoNobel is visible in Amsterdam, Netherlands on February 16, 2012. REUTERS/Robin van Lonkhuijsen/United Photos

(Reuters) – Dutch coatings manufacturer Akzo Nobel reported Wednesday lower-than-expected core earnings for the quarter. This was due to high raw material costs that continued to impact on the market.

Amsterdam-based business reported an adjusted operating profit of 209 million euros in fourth quarter ($238.72 millions), below the forecast by analysts at 212.5million euro.

($1 = 0.8755 euros)

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