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PPG Industries: profit up in emerging regions

PPG Industries Inc. reported a better-than-expected third-quarter profit due to strong emerging market sales. Earnings totalled USD 262 million, or USD 1.58 per share, compared to USD 159 million, or …

PPG Industries Inc. reported a better-than-expected third-quarter profit due to strong emerging market sales. Earnings totalled USD 262 million, or USD 1.58 per share, compared to USD 159 million, or 96 cents per share, in the same period of 2009. Revenue increased to 7.3% to USD 3.46 billion, compared to the USD 3.41 billion expected by analysts. Made up the greater part of this increase despite anaemic construction markets in the developed economies of the world. While we anticipate continued gradual recovery in economic conditions, the fourth quarter is traditionally a slower sales quarter for most of our businesses due to seasonality, CEO Charles Bunch said in a statement.

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