Assa Abloy Posts Surge In Q1 Net Profit

Assa Abloy AB

reported a surge in its first-quarter net profit. Assa Abloy's quarterly net profit rose to SEK1.14 billion, from SEK941 million, in the year-ago period. However, analysts were expecting a net profit of SEK1.11 billion. Its revenue rose to SEK10.84 billion, from SEK8.70 billion, and versus analysts' estimates of SEK10.82 billion. Assa Abloy's EBIT climbed to SEK1.66 billion, from SEK1.38 billion, versus analysts' estimates of SEK1.60 billion. Assa Abloy shares closed at $14.67 yesterday.