Assa Abloy Q2 operating profit roughly matches consensus
STOCKHOLM, July 27
STOCKHOLM, July 27 (Reuters) - Assa Abloy, the world's biggest lock maker, posted a rise in second-quarter operating profit on Friday that roughly matched expectations and stood by an outlook for a weak global economy this year and weak growth in mature markets.
Earnings before interest and tax stood at 1.89 billion Swedish crowns ($275.2 million) against a year-earlier 1.62 billion and a mean forecast in a Reuters poll of analysts for 1.85 billion.
"The world economy is forecast to remain weak for the rest of the year. On the mature markets stable economic development with unchanged weak growth is expected, while economic growth on the new markets is expected to be less strong than last year," the company said in a statement.
($1 = 6.8670 Swedish crowns) (Reporting by Anna Ringstrom)
- Total CEO de Margerie killed in Moscow as jet hits snow plow |
- Pistorius starts five-year term for killing Reeva Steenkamp
- Ebola crisis turns a corner as U.S. issues new treatment protocols
- Fashion designer Oscar de la Renta dead at 82 |
- U.S. Congress examining deal between NSA official, ex-agency chief