The world's largest paint maker, Dutch-Swedish group AkzoNobel, reported healthy profit in the fourth quarter compared with a loss a year earlier, boosted by strong sales in emerging markets as the US and Europe suffered from weak demand.

“AkzoNobel’s revenue in high growth markets, currently representing around 40 percent of our total, grew more than 20 percent, outperforming the market in 2010”, CEO Hans Wijers said in a statement, adding that revenues were up 10 percent in mature markets.

Net profit came in at 162 million euro ($220 million) compared with a loss of 60 million euro a year ago.

However, the company is feeling the pinch of high commodities costs.

"Raw material prices increased in 2010, particularly in the second half of the year, and the company expects 2011 prices to increase further," it said in its earnings report.

The Amsterdam-based company -- with roots going back all the way to Swedish chemist and innovator Alfred Nobel -- keeps accelerating on emerging markets as demand in Europe and the US remain slow.

Last year AkzoNobel opened a 375 million dollar production facility in China; the company’s single biggest greenfield investment ever. Now it plans to invest 90 million euros in Brazil in a new plant to supply chemicals to a giant pulp mill.

China is likely to overtake the US as AkzoNobel’s biggest market within five years, Hans Wijers told The Swedish Wire in Shanghai in November.