Stock Groups

Lockmaker Assa Abloy profit rises more than expected -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: A shop displays an Assa-Abloy lock on September 19, 2013, in Riga. REUTERS/Ints Kalnins

STOCKHOLM, (Reuters) – Assa Abloy reported a higher quarterly profit than anticipated on Friday despite continuing supply chain problems as the demand grew.

Due to price rises and increased sales, the operating profit for the Swedish group climbed to 4.01 Billion Crowns (or $441.95 million).

Refinitiv polled analysts and forecasted a 3.87 Billion crown profit.

Sales of products and services, excluding acquisitions, increased 10%. CEO Nico Delvaux stated that as many restrictions were removed, activity levels improved.

Assa Abloy (OTC) suggested a 2021 dividend of 4.20 crowns each share. This is an increase from the 3.90 crowns in previous years.

($1 = 9.0734 Swedish crowns

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