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In the second quarter of2018 , continuing operations achieved a net profit of US$ 371 million, equivalent to a diluted earnings per share of US$ 1.
In the second quarter of 2017 , continuing operations achieved a net profit of US$ 497 million, equivalent to US $ 1.
Michael McGarry , Chairman and CEO ofPPG , said: "In the second quarter, net sales in local currencies rose by approximately 6% .
"Affected by rising oil prices and insufficient capacity, the cost of raw materials and logistics continued to increase in the second quarter
"Looking forward, we currently expect that the cost pressure will not be reduced in the third quarter, and we believe that the global economy will maintain positive growth as a whole.
"Finally, the company repurchased nearly US$ 1.
Summary of the performance of each business department in the second quarter of 2018
- The high-performance coatings business achieved net sales of US$ 2.
Sales of aviation coatings climbed by more than 10% , mainly due to the increased demand for PPG products in the
The high-performance coatings business achieved a net profit of US$ 428 million in the second quarter , a year-on-year increase of 6% , of which foreign exchange gains contributed US$ 8 million in net profit .
Automotive original equipment manufacturer ( OEM ) coating sales achieved low-single-digit growth compared to the same period last year, which was equivalent to the growth rate of global automotive production
The net profit of the industrial coatings business in the second quarter was US$ 223 million, a year-on-year decrease of US$ 41 million, or approximately 16%
Since the company has introduced measures in recent years to reduce pension and other post-employment benefits costs, resulting in a decline in wages and benefits costs in the second quarter, the company's operating expenses during the same period have decreased compared with the second quarter of 2017 .
PPG: We protect and beautify the world
PPG (New York Stock Exchange code : PPG ) has been committed to developing and providing trustworthy paint, coating and material products for customers for 135 years
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