ABB Reports Record Profits

ABB reports 3.8 billion dollars in profits for 2007, more than two and a half times that of the year before. The company also says it expects growth this year of between 15 and 20 percent for its power-related activities, and 10 percent in the automation sector.

ABB attributes the showing to strong markets, as Europe and the United States replace aging power systems. But it says there could be a dampening of demand because of slower overall economic growth in some countries.

Source: By Sveriges Radio 2008