Jotun on track for another record year

Image: Jotun.
Image: Jotun.

Norwegian paint company’s profits rise 41.5% in first quarter of 2021.

Publisert

The world’s biggest producer of marine paints, Jotun, says it is headed for another record year, with first quarter profits up 41.5% on the same period last year.

The company cites increased sales, strong gross margins, and good cost control for the increase. However, sales of marines coatings continued to fall due to lower market activity related to newbuildings and maintenance of existing ships.

The Sandefjord-based company was established in 1926, with 54% owned by the Gleditsch family and the remainder by industrial conglomerate, Orkla.

Powered by Labrador CMS