Stocksak: Lockmaker Assa Abloy’s Q3 profit increases more than anticipated

© Stocksak.

STOCKHOLM – Assa Abloy, the world’s largest lockmaker, reported Wednesday its third quarter earnings. The results were higher than expected due to double-digit organic sales growth in most countries.

The operating profit of the Swedish group increased to 4.97 billion crowns ($453.3m) from 3.39 billion a year ago, compared with a median forecast of 4.65billion in a Refinitiv poll.

($1 = 10.9640 Swedish Crowns)

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