Assa Abloy Q1 beats forecast helped by higher sales and lower costs

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Operating profit fell to 3.96 billion crowns from a year-earlier 4.00 billion. Analysts polled by Refinitiv had on average expected a profit of 3.69 billion crowns. Excluding restructuring costs the operating profit grew to 5.18 billion crowns.

Assa Abloy said in a statement lower material costs, higher prices to customers, cost cuts and strong sales growth at in particular its Global Technologies and Americas divisions boosted profits. Group organic sales growth was 8%.