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ABB Q3 net profit up 12 pct to over $1 bln

ABB Q3 net profit up 12 pct to over $1 bln

Swiss-based electrical engineering company ABB Group says its third-quarter net profit rose 12 percent to over $1 billion.
ABB says the results were helped by the release of $380 million in provisions made for taxes, antitrust fines and restructuring charges.
The company recorded a net profit of $927 million during the July-September period of 2008.
ABB says turnover during the third quarter this year fell 10 percent to $7.91 billion. Orders dropped 21 percent to $7.06 billion.
The company declined Thursday to provide an outlook for the coming months, citing volatile market conditions through 2010.


Updated : 2020-12-06 02:39 GMT+08:00