February 6, 2020 / 7:16 AM / 18 days ago

Assa Abloy's Q4 operating profit rises but core sales growth stalls

STOCKHOLM, Feb 6 (Reuters) - Assa Abloy, the world’s biggest lock maker, reported on Thursday a rise in fourth-quarter operating earnings before items affecting comparability that roughly matched expectations while sales growth before acquisitions slowed to 1%.

It said market conditions remained mixed and geopolitical challenges continue to be a concern.

Operating profit before items affecting comparability was 4.05 billion Swedish crowns ($422.6 million) against a year-earlier 3.75 billion. Analysts had on average estimated a profit of 3.99 billion crowns, according to Refinitiv data.

Assa Abloy proposed a dividend of 3.85 crowns per share for 2018, up from 3.50 crowns. ($1 = 9.5831 Swedish crowns) (Reporting by Anna Ringstrom; Editing by Simon Johnson)

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