Jul 28, 2011

Assa Abloy Half-Year Report Shows Solid Progress

*Sales totaled SEK 10,502 M (9,356), representing an increase of 12 percent, made up of 5 percent organic growth, 20 percent acquired growth and currency effects of -13 percent.
*Strong growth in Asia and South America.
*Slow but stable development on the mature markets.
*Operating income (EBIT) increased by 7 percent and amounted to SEK 1,615 M (1,515).
*The operating margin amounted to 15.4 percent (16.2) including dilution from acquisitions and currency with 1.1 percent.
*Sale of Lorentzen & Wettre to ABB means that the Cardo transaction will be complete.
*Reduced tax rate to 22 percent (24).
*Net income amounted to SEK 1,156 M (1,031).
*Earnings per share rose by 12 percent to SEK 3.07 (2.74) read more

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