Dormakaba seen up on FY beat

Dormakaba Holding AG

31/08/2023 07:45

** Shares in Dormakaba  DOKA.S  are seen up 2.2% pre-market
after the Swiss security device maker slightly beat full-year
sales and earnings expectations helped by price hikes
    ** The group reported net sales of 2.85 billion Swiss francs
($3.24 billion) for the year ended on June 30, above analysts'
average forecast of 2.82 billion in a company-provided poll
    ** Jefferies says the sales beat is due to the Shape4Growth
strategy, which is showing early signs of success, but also the
company's limited exposure to residential markets
    ** "We find today's figures solid (and going in the right
direction), highlighting Dormakaba's pricing power," Baader
Helvea says


 (Reporting by Bartosz Dabrowski)
 ((bartosz.dabrowski@thomsonreuters.com; +48 58 7696560;))