Connect with us
Finance Digest is a leading online platform for finance and business news, providing insights on banking, finance, technology, investing,trading, insurance, fintech, and more. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.


STOCKHOLM (Reuters) -Assa Abloy, the world’s biggest lockmaker, raised its dividend more than expected as it met quarterly profit forecasts on Friday, signalling its confidence even as it braces for an uncertain economic outlook.

The Swedish group reported a 28% increase in fourth-quarter operating profit to 5.15 billion Swedish crowns ($49.62 billion) from 4.01 billion a year-earlier. Analysts polled by Refinitiv had on average expected a profit of 5.16 billion crowns.

The company, whose products range from security doors and automated entrance solutions to electronic and mechanical locks, proposed a dividend of 4.80 crowns per share for 2022, up from 4.20 crowns a year earlier and above the 4.66 crowns seen by analysts.

Assa has in recent quarters cut costs as slowing demand, supply chain problems and semiconductor shortages have continued to hamper its business.

In the fourth quarter, a recovery in activity among travel-related customers and continued very strong demand in the U.S. non-residential market helped boost sales.

However, Chief Executive Nico Delvaux warned of continued uncertainty after a year of supply chain challenges, high inflation and COVID-19-related disruptions.

Since the macroeconomic environment continues to be uncertain, we have prepared ourselves to mitigate any possible negative changes in the demand and to reduce our cost-base throughout the organization,” he said in a statement.

Assa, whose rivals include Allegion and Stanley Black & Decker, said organic, or like-for-like, sales rose 9% in the quarter as sales increased to 32.92 billion crowns.

(Reporting by Marie Mannes Editing by Terje Solsvik and Mark Potter)


Continue Reading

Why pay for news and opinions when you can get them for free?

       Subscribe for free now!

By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Posts