Assa Abloy Q2 operating profit beats consensus
STOCKHOLM, July 19
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)