ZURICH Feb 14 Switzerland's ABB said
it would focus on costs to offset near-term uncertainty about
growth in Europe and the U.S. as it posted a
narrower-than-expected fall in fourth-quarter profit.
The world's biggest supplier of industrial motors and power
grids, said fourth-quarter net profit fell 27 percent to $604
million, hit by a $350 million charge, flagged in December, to
revamp its power systems unit.
Analysts in a Reuters poll had forecast profit of $532
ABB, which competes with Germany's Siemens, has
sought to cut costs to try and combat a sluggish global economy
that has sapped demand for factory equipment and prompted
clients to postpone big capital expenditure projects.
(Reporting by Caroline Copley)