Assa Abloy: growth accelerates, shares shine
(CercleFinance.com) - Assa Abloy, the world's biggest lockmaker, posted an acceleration in growth on Tuesday, which sent its shares up in Stockholm.
In the fourt quarter the Swedish group's organic growth accelerated to 6%, resulting in organic sales growth of 5% for the full year if 2018.
Its operating income for the fourth quarter increased by 12% year-on-year to 3.75 billion Swedish kronor.
The company cited "strong growth" in electro-mechanical products, which now represent 30% of its sales.
Assa Abloy also said it will pay a dividend of 3.50 Swedish kronor per share for 2018, up from 3.30 Swedish kronor in 2017, which was another piece of good news.
Shares in Assa Abloy are bubbling today - up 6.5% at 182.7 Swedish kronor, outpacing a 1% rise in the Stockholm bourse's blue-chip index, the OMXS30.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
In the fourt quarter the Swedish group's organic growth accelerated to 6%, resulting in organic sales growth of 5% for the full year if 2018.
Its operating income for the fourth quarter increased by 12% year-on-year to 3.75 billion Swedish kronor.
The company cited "strong growth" in electro-mechanical products, which now represent 30% of its sales.
Assa Abloy also said it will pay a dividend of 3.50 Swedish kronor per share for 2018, up from 3.30 Swedish kronor in 2017, which was another piece of good news.
Shares in Assa Abloy are bubbling today - up 6.5% at 182.7 Swedish kronor, outpacing a 1% rise in the Stockholm bourse's blue-chip index, the OMXS30.
Copyright (c) 2019 CercleFinance.com. All rights reserved.