UPDATE 1-Lock maker Assa Abloy's sales growth tops forecast [Reuters]
ASSA ABLOY UNSP/ADR (ASAZY)
NASDAQ:AMEX Investor Relations:
assaabloy.com/en/com/investors
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Source: Reuters
UPDATE 1-Lock maker Assa Abloy's sales growth tops forecast | Reuters 3 Min Read * Q4 adj. EBIT 3.75 bln SEK vs consensus 3.73 bln * Q4 core sales up 6 pct vs consensus up 4 pct * Q4 electromechanical locks sales up 30 pct * Shares up 5 percent (Adds detail, background, shares) STOCKHOLM, Feb 5 (Reuters) - Assa Abloy, the world’s biggest lock maker, beat quarterly sales forecasts on Tuesday, boosted by strong demand for its electronic devices. Its shares jumped more than 5 percent in early trading. The Swedish firm also said that as part of an earlier flagged programme to integrate recent purchases, launched in the quarter, it would close about 50 offices and factories, outsource more activities and boost automation to make savings. Fourth-quarter operating profit before restructuring and other one-off costs rose to 3.75 billion Swedish crowns ($411 million) from 3.36 billion crowns in the same period a year earlier, matching analysts’ expectations. Sales before acquisitions climbed 6
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