Europe boost for lock maker

Swedish Assa Abloy, the world’s biggest lock maker, expects some growth in its main European market this year as construction expands in Germany and other strong economies. Posting 15 per cent growth in fourth-quarter core earnings, in line with expectations, the company said growth in some areas would offset the impact of government austerity measures in other markets. “We have Germany where we see a good economic situation, we have Sweden, we have Finland – so we think we ought to be able to see some growth in Europe,” said chief executive Johan Mohlin.