ZURICH, July 23 Swiss engineering group ABB
posted a bigger-than-expected fall in second-quarter
net profit, hit by depreciation and amortisation and a weak
performance in its loss-making power systems unit.
ABB, which makes products ranging from electricity
substations to industrial robots, said net profit fell 17
percent to $636 million. Analysts in a Reuters poll had forecast
net income of $706 million.
The profit figure included $333 million of depreciation and
amortisation, of which $100 million was related to acquisitions,
The Zurich-based company stuck to its cautious outlook,
saying uncertainty in some emerging markets may offset more
encouraging signs in the United States and parts of Europe.
(Reporting by Caroline Copley; Editing by Michael Urquhart)