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)
- Islamic State video claims to show beheading of U.S. journalist |
- Gaza war rages on, Hamas says Israel tried to kill its military chief |
- Four beheaded corpses found in Egypt's Sinai: security sources
- Father of Texas 'affluenza' teen arrested for impersonating police officer
- U.S. attorney general visits racially charged St. Louis suburb