ABB Profits Up Due to Global Demand

ABB said on July 24 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% at $975 million, while orders rose 31% to $11.3 billion."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.

Copyright Agence France-Presse, 2008