 ICI's Dulux brand accounts for 40% of the UK paint market |
Takeover target ICI has reported a 12% rise in half-year profits and says its outlook remains "positive". The maker of Dulux paints, which rejected a second takeover offer from Dutch firm Akzo Nobel on Monday, posted underlying half-year profits of �255m.
Profits at ICI's paints division, which is coveted by Akzo, rose 10% to �127m.
ICI made no comment in its results statement about Akzo's approaches. The firm said on Monday that Akzo's �7.8bn bid undervalued the firm.
Reports have suggested that ICI could also be a bid target for US firm Dow Chemicals.
US group DuPont, Germany's BASF and India's Reliance Industries have also been mentioned as possible suitors.
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