ABB's 10% rise in net profit disappoints
Article Abstract:
ABB Asea Brown Boveri AG, the Swiss-Swedish maker of engineering equipment, posted net earnings of $849 million for the first nine months of 1998, a 10% increase from the $774 million it reported for the same period in 1997 but well under the minimum 20% predicted by analysts for the company. The firm, which has received praise for its handling of the effects of the Asian financial crisis, remains confident that it will surpass its 1997 profits. ABB's new orders, despite a 5% decline to $25.7 billion from 1997's $27.06 billion, is seen to be more profitable than in previous years.
Comment:
Posts net earnings of $849 mil for the 1st 9 months of 1998
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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ABB tops forecasts, lifts net 17%, boosting shares
Article Abstract:
ABB Asea Brown Boveri AG posted an improvement of 17% in its earnings for the first quarter of 1999. The earnings were higher than expected. The engineering firm was aided by evidence that the economic crisis in Asia had ended and that the slow down in Europe had reached a plateau. ABB posted $302 million in group net profits for the period. During the same period in 1998, the firm posted $258 million.
Comment:
Posted improvement of 17% in earnings for first quarter of 1999
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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Influential chairman quits engineering giant ABB
Article Abstract:
ABB Ltd.'s nonexecutive chairman, Percy Barnevik, has resigned from his post. Juergen Dormann will replace Barnevik, who was responsible for making the company a management case study.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2001
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