Nippon Paint the first three quarters net profit decrease

Recently, Nippon Paint Holdings, Inc. announced the first three quarters of financial statistics. Data show that from January to September 2019, the company achieved net profit of 32.6 billion yen, a decrease of 7% over last year. Analysts say that although construction coatings market in China is stable, but costs associated with the appreciation of the yen exchange rate market and the resulting acquisition of Dulux and other companies are squeezing the profit margins of paint online coatingol.com. Data show that the first three quarters of Nippon Paint sales of 495.1 billion yen, an increase of 4%. Current operating profit of 66.4 billion yen, up slightly reduced. The company's sales are sluggish automotive coatings market in India and Thailand, but the Chinese business expansion to compensate for this loss. Domestic sales of automotive and architectural coatings firm, infrastructure repair needs after a series of natural disasters in Japan also contributed to the growth performance. In addition, the company's acquisition of Turkish companies and paint manufacturers Betek Australia paint giant Dulux Group has spent huge amounts of money. The company's 2019 full year forecast no change, net profit is expected to be 39 billion yen, down 14 percent year on year; sales revenue is estimated at 640 billion yen, an increase of 2%.