This excerpt taken from the ICI 6-K filed Mar 21, 2007.
Seasonality and cyclicality
Due to the diversity of their product portfolios and broad international coverage, seasonality within National Starch and the Regional and Industrial businesses is not significant. ICI Paints, however, is affected, with trading patterns influenced by prevailing weather conditions. With the geographic profile of ICI Paints, this typically results in higher levels of activity in the second and third quarters of the year.
In addition, over longer periods of time, markets for decorative paint can exhibit some economic cyclicality, typically driven by levels of investment in domestic and commercial property, although generally moving in line with GDP. Such cyclicality can have an adverse impact on the performance of the related decorative paints business.