Lock manufacturer Assa Abloy beats market expectations with its interim report for the second quarter.
The company's adjusted operating profit amounted to almost 6.2 billion kronor compared to the forecast of on average 5.9 billion kronor. In addition, the organic growth was 3 percent, here the expectations were 1.8 percent. The company has, however, been affected by currency effects in the form of a weaker US dollar.
"The currency effects had a significant negative impact on sales of minus 8 percent, which resulted in an unchanged total sales growth", writes the company's CEO Nico Delvaux in the report.
The revenue of just over 38 billion kronor was at the same time in line with last year's result.
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