Låskoncernens sales rose more than expected, but profit was lower than forecast.
Assa Abloy reported a profit before tax of 2.851 billion kronor (2552) for the fourth quarter of 2015.
It was almost 2 percent lower than expectations which was at 2.907 billion, according to SIX News / inquiry Financials survey.
Operating profit was 3.038 billion (2681), giving a margin of 16.6 percent (16.9). Waited were 3.064 billion and 16.9 percent.
“The operating result was negatively impacted by provisions made for possible loan losses of 250 million in China. The generally weak demand in emerging markets has also led to a performance-based deferred acquisition payments, so-called earnouts , has been recognized as income in profit by 245 million when payments are not expected to occur, “the company said.
Net profit was 2.12 billion (1889), corresponding to 1.91 SEK per share (1.70). Waited were 2.152 billion and 1.94 kronor.
Sales rose 15 percent to 18.301 billion (15 847), expected, 18.097 billion. Organic growth was + 5 percent, while currencies affected by +6 per cent and the acquisition of +4 per cent. Expected organic growth was +3.7 percent.
The Board proposes a dividend of SEK 2.65 per share (2.17).
Analysts had expected a rise in the dividend to 2.50 per share.
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