Dutch chemical company Akzo-Nobel has announced a 197 million euro profit over the third quarter of 2009, a 30 percent increase on last year.

The turnover of Akzo-Nobel, the world's biggest paint manufacturer, dropped by 10 percent in the third quarter to 3.5 billion euros. The company explained that there are no credible signs of a genuine economic recovery, other than a degree of stabilisation. Results in the emerging markets, such as Asia, are good.

The Netherlands' telecoms giant KPN also announced a year-on-year growth of profits in the third quarter, reporting a 12 percent increase to 395 million euros. KPN ascribes the improved results to cost and job cutting; the company also increased its rates.