STOCKHOLM, Oct 19 (Reuters) - Sweden’s Assa Abloy , the world’s biggest lock maker, posted on Friday an increase in third-quarter operating profit that matched expectations and said it would launch a three-year restructuring programme in the fourth quarter.
Operating profit was 3.42 billion Swedish crowns [$379.0 million), up from a year-ago 3.08 billion and in line with a mean forecast in a Reuters poll of analysts.
Organic sales growth accelerated to 5 percent from 3 percent a year earlier, beating a poll forecast of 4 percent.
Assa Abloy, which in the previous quarter made a large writedown on its Chinese business, said it was implementing a new strategy and organisation in China.
$1 = 9.0245 Swedish crowns Reporting by Anna Ringstrom