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Akzo Nobel's Q4 core profit surges as demand recovers

AMSTERDAM, Feb 17 (Reuters) - Dutch paints and coatings maker Akzo Nobel on Wednesday said its fourth-quarter core profit jumped 32% to 294 million euros ($355 million), as demand recovered from the deep fall due to the coronavirus crisis earlier in the year.

Analysts polled by the company had expected adjusted operating income to increase to 262 million euros, after a 223 million euros result a year earlier.

Akzo Nobel also announced a new share buyback programme worth 1 billion euros, to be completed in the coming year.

$1 = 0.8273 euros Reporting by Bart Meijer; Editing by Tom Hogue

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