Akzo Nobel reports 9% sales increase in decorative paints category, with Dulux strengthening position in UK, despite decline in demand.
Paint and coatings firm Akzo saw a 12% growth in revenue in 2010, with sales in its decorative paints category up 9% for the full year. Demand in the high growth markets, including China and South East Asia, was robust, said the company, while demand and sales in most of the company's mature markets saw a decline.

The UK was the only mature market to show any revenue growth for the year, with Akzo continuing to strengthen Dulux's position, as well as gaining share in the trade segment. Despite a slight decline in demand in the UK, sales were still up, compared with 2009, while other European markets struggled, due to low consumer confidence, a weak construction and renovation industry, and lower trade demand.

Q4 followed a similar regional pattern as the rest of 2010, with revenue up 11%, primarily driven by Asia and Latin America. Sales in Europe were up 2% for the quarter, while the US reported a 15% increase and Asia a 34% jump.