Assa Abloy: strong end to 2017 - shares rise
(CercleFinance.com) - Assa Abloy had a "strong finish to 2017," as organic growth reached 5% in the fourth quarter, the Swedish lock maker said on Tuesday.
The company said net sales increased by 3% to 20.1 billion Swedish kronor in the last three months of 2017, from 19.5 billion Swedish kronor a year ago, thanks to strong growth in Europe, the Middle East and Africa (EMEA).
Operating income (EBIT) grew to 3.35 billion Swedish kronor, up from 2,9 billion Swedish kronor a year earlier, corresponding to an operating margin that rose to 16.7% from 15%.
Assa Abloy said it would propose a dividend of 3.30 Swedish kronor per share for 2017, compared with 3 Swedish kronor in 2016.
Investors warmly welcomed these numbers in Stockholm, with the stock up 1.8% in a market that was down 1.3%.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The company said net sales increased by 3% to 20.1 billion Swedish kronor in the last three months of 2017, from 19.5 billion Swedish kronor a year ago, thanks to strong growth in Europe, the Middle East and Africa (EMEA).
Operating income (EBIT) grew to 3.35 billion Swedish kronor, up from 2,9 billion Swedish kronor a year earlier, corresponding to an operating margin that rose to 16.7% from 15%.
Assa Abloy said it would propose a dividend of 3.30 Swedish kronor per share for 2017, compared with 3 Swedish kronor in 2016.
Investors warmly welcomed these numbers in Stockholm, with the stock up 1.8% in a market that was down 1.3%.
Copyright (c) 2018 CercleFinance.com. All rights reserved.