By Adam Clark

Akzo Nobel NV (AKZA.AE) said Wednesday that its profit rose in the first quarter of 2019 despite lower volumes holding back revenue growth.

The Dutch paints-and-coatings company made a quarterly adjusted operating profit of 163 million euros ($183.1 million), up 9% from the year-earlier quarter.

Revenue came to EUR2.19 billion, flat from the prior year or up 1% in constant currencies. Akzo Nobel said higher prices helped offset a 7% fall in volumes, partly caused by a slowdown in China.

Raw-materials inflation added EUR77 million in additional costs for the quarter. Akzo Nobel said it is implementing pricing initiatives and cost-cutting programs.

"We continue executing our transformation to deliver the next EUR200 million cost savings by 2020, incurring one-off costs in 2019 and 2020," the company said.

Write to Adam Clark at adam.clark@dowjones.com

(END) Dow Jones Newswires

April 24, 2019 01:31 ET (05:31 GMT)

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