ZURICH, July 25 Swiss industrial group ABB
said it was confident it would see profitable growth,
even as second-quarter net profit missed expectations and orders
fell due to a restructuring of its power unit.
"Our outlook for the rest of the year remains unchanged from
the end of the first quarter," outgoing Chief Executive Joe
Hogan said in a statement.
"Macro indicators are increasingly mixed, which makes
predicting the timing of orders more difficult, especially large
project orders. However, our strong backlog will continue to
partly mitigate that uncertainty."
Second-quarter net profit rose 16 percent to $763 million,
compared to the average forecast in a Reuters poll for a jump of
20.6 percent to $791 million.
Orders fell 7 percent on the year to $9.312 billion.