Lock maker Assa Abloy’s (OMX: ASSA B) Q1 2012 sales were up by a quarter to 10.84 billion SEK as a result of numerous acquisitions. Organic growth rate was 3%. Net income came to 1.14 billion and earnings per share were up to 3.10 SEK.
The development was good in Europe and North America where as some weakening could be observed in emerging countries. Increasing costs in China in particularly also reflected in regional margins. New products were well received by the markets and contributed in earnings.
The company expects security-driven demand to increase over the longer term. It expects to be able to leverage its strong position and new innovations to grow and increase profitability. The stock was up 4% going into the report but quickly reversed course and is now down by 2%.
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