Assa Abloy: second-quarter earnings ahead of consensus
(CercleFinance.com) - Assa Abloy, the world's biggest lockmaker, on Wednesday posted a bigger rise than expected in second-quarter profit as the good start to 2019 continued in the past quarter.
Operating income excluding non-comparable items rose 13% to 3.7 billion Swedish crowns, with the group managing to offset higher raw material costs.
Total sales grew by 11%, driven by organic growth of 3%. Growth was particularly strong in Americas (+6%) and in the technologies unit (+5%), it said.
While demand has generally been good in 2019, Assa Abloy said it has seen increased "uncertainty" in some markets, due to weaker construction indices and geopolitical challenges.
Yet, shares were up 3.2% at 223 Swedish crowns, outperforming the market in Stockholm.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Operating income excluding non-comparable items rose 13% to 3.7 billion Swedish crowns, with the group managing to offset higher raw material costs.
Total sales grew by 11%, driven by organic growth of 3%. Growth was particularly strong in Americas (+6%) and in the technologies unit (+5%), it said.
While demand has generally been good in 2019, Assa Abloy said it has seen increased "uncertainty" in some markets, due to weaker construction indices and geopolitical challenges.
Yet, shares were up 3.2% at 223 Swedish crowns, outperforming the market in Stockholm.
Copyright (c) 2019 CercleFinance.com. All rights reserved.