Assa Abloy: stock flat on unsurprising CMD

(CercleFinance.com) - Assa Abloy shares were pretty flat on the Stockholm Stock Exchange on Wednesday following a fairly unsurprising CMD.


At this event in London, the Swedish locks and security systems giant merely confirmed its targets of an operating margin (Ebit) of 16% to 17% and average sales growth of 10% over the current economic cycle.

The group made it clear that it did not intend to communicate any other type of target at the event.

It intends to focus its presentations on the business areas where it believes the company is most likely to generate 'profitable growth', the key word in the company's philosophy over the past few years.

Following these announcements, Assa Abloy's shares were pretty flat (-0.5%) on Wednesday on the Nasdaq Stockholm.


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