ABB net profit lifted by strong global demand

0 Comments | AFP, July, 2008

ZURICH (AFP) — Swedish-Swiss engineering group ABB said on Thursday it had posted a record quarter with strong orders and sales on the back of healthy global demand.

Net profits for the second quarter were up 34 percent at 975 million dollars (621.3 million euros), while orders rose 31 percent to 11.3 billion dollars.

"This was a record quarter for ABB," said Michel Demare, ABB's chief executive officer.

Demand for technologies in power infrastructure, energy efficiency and industrial productivity remained high during the period, said the group.

© 2008 AFP