The economic downturn resulted in stagnating growth for Jotun in the first four months of the year.
‘The figures so far are still relatively high in relation to record levels seen last year. In litres and kilos the group sold two per cent less paint than it did for the same period last year. The Powder Coatings Division saw a marked fall in volumes while other important areas continued to grow. The weaker Norwegian kroner exchange rate was one of the factors that contributed to a relatively strong increase in operating income. The operating profit totalled NOK 339 million compared with NOK 363 million in the first four-month period last year. Weaker performance is expected. The group’s operating income amounted to NOK 3.7 billion compared to NOK 3.2 billion last year.