Assa Abloy Beats Profit Forecasts
Assa Abloy reported stronger third-quarter earnings as pricing and cost control drove an eleven percent increase in operating profit. Organic revenue grew four percent, with strong performance in the Americas. The lock maker also announced a new manufacturing optimization program.
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ASSA ABLOY AB-B reported an 11% increase in operating profit to 7.10 billion Swedish crowns ($713.39 million) for the third quarter on Tuesday morning. The result beat the 6.94 billion crowns consensus forecast compiled by analysts. The company's pricing strategies and cost controls drove the performance across core markets.
