Assa Abloy Q2 operating profit beats consensus

STOCKHOLM, July 19 Fri Jul 19, 2013 2:14am EDT

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STOCKHOLM, July 19 (Reuters) - Assa Abloy, the world's biggest lock maker, posted on Friday second-quarter operating profit in line with expectations with like-for-like sales growth of 3 percent.

Earnings before interest and tax rose to 1.97 billion Swedish crowns ($298.5 million) from a year-earlier 1.89 billion, against a mean forecast in a Reuters poll of analysts of 1.94 billion.

"My assessment is that the outlook is unchanged, with a continuing weak world economy affected by the budget cutbacks that many countries are making," Chief Executive Jan Molin said in a statement. ($1 = 6.5988 Swedish crowns) (Reporting by Anna Ringstrom)

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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