Assa Abloy Q1 Profit Essentially Unchanged as Sales Slip on Macro Pressures
Assa Abloy reported a nearly flat net profit for the first quarter, with sales down 6% year-on-year. The company pointed to macroeconomic headwinds in multiple regions, notably a weaker North American residential market, while non-residential demand and its global technologies segment showed pockets of strength. Operating margin improved as currenc…