|Bid||232.30 x 0|
|Ask||232.40 x 0|
|Day's range||232.20 - 237.80|
|52-week range||220.00 - 290.60|
|Beta (5Y monthly)||0.62|
|PE ratio (TTM)||27.69|
|Forward dividend & yield||4.20 (1.80%)|
|Ex-dividend date||21 Nov 2022|
|1y target est||287.56|
STOCKHOLM (Reuters) -Assa Abloy said on Wednesday material shortages and supply chain problems would continue to impact its markets, after posting third-quarter profit below market expectations. The world's biggest lockmaker said it expected growth in Europe and the Americas to recover to normal levels ahead, while its travel-related business was recovering slowly. Like-for-like sales growth came in at 7%, helped by the reopening of societies in most of Assa's core markets during the quarter.
U.S. lockmaker Spectrum Brands Holdings Inc has agreed to sell its hardware and home improvement division to Swedish rival Assa Abloy for $4.3 billion in cash. Shares in Assa Abloy rose 6.2% in early trade on Thursday, buoyed by the deal and the prospects for expansion beyond its commercial business in North America into the residential market. "In summary, a great addition to Assa Abloy Group; really the missing piece for us in the Americas and in North America, the U.S. in particular," CEO Nico Delvaux told analysts and reporters.
Sweden's Assa Abloy, the world's biggest lockmaker, beat expectations with a 71% jump in second-quarter operating profit on Monday, saying demand picked up in many of its markets even as travel-related sectors, such as hotels, still lagged. The company - whose products range from security doors and automated entrance solutions to electronic and mechanical locks under a wide range of brands such as Yale, said sales returned to or exceeded pre-pandemic levels in three divisions including its biggest, Entrance Systems. Assa Abloy said its Global Technologies division grew like-for-like sales by 17% though volumes in travel-related segments, such as hotels, which it supplies with key cards, in-room safes and electronic door locks, still remained lower than before the pandemic.