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Last Updated: Thursday, 2 August 2007, 10:31 GMT 11:31 UK
Bid target ICI sees profits rise
Dulux paint
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.




SEE ALSO
ICI snubs second offer from Akzo
30 Jul 07 |  Business
Akzo Nobel gets ICI bid deadline
06 Jul 07 |  Business
ICI rejects 7.2bn bid approach
18 Jun 07 |  Business
ICI sells flavour business Quest
22 Nov 06 |  Business

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