ASSA ABLOY (ASS.L, ASAZY.PK) reported that its first-quarter net income rose to SEK 1.140 billion from SEK 943 million in the year ago quarter. Earnings per share rose 23% to SEK 3.10 from SEK 2.53 in the same quarter last year.
Sales for the quarter increased by 25% to SEK 10.84 billion from SEK 8.70 billion in the prior year quarter.
The company said that all restructuring programs proceeded according to plan and led to a reduction in personnel of 346 people during the quarter and 6,243 people since the projects began. A further 1,292 people will leave by the end of 2014.
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