ZURICH, April 24 Swiss industrial group ABB
posted a smaller-than-expected net profit in the
first-quarter, as clients shied away from big industrial
investments and U.S. growth slowed.
The world's biggest supplier of industrial motors and power
grids said first-quarter net profit fell 3 percent to $664
million. Analysts in a Reuters poll had forecast net profit of
$710 million francs.
Engineering groups like ABB and German rival Siemens
are keeping a firm grip on costs as a sluggish global
economy saps demand for factory equipment and prompts clients to
postpone capital investment.
(Reporting by Caroline Copley)