May 2, 2019 / 8:01 AM / 19 days ago

ABB expects to improve revenues and margins in tough environment

ZURICH, May 2 (Reuters) - ABB expects to improve revenue growth and its operating profit margin this year despite difficult economic conditions hitting Europe, Chairman and Chief Executive Peter Voser told the Swiss engineering company’s annual general meeting on Thursday.

Voser, who took over as acting CEO after Ulrich Spiesshofer abruptly left the company last month, said the search for a successor was well under way, with the company considering internal and external candidates.

“Despite the difficult economic conditions, particularly in Europe, we expect improvements in revenue growth and margins in 2019, and want to achieve a target corridor of 13 to 16 percent in the medium term,” Voser said in remarks prepared for the meeting. (Reporting by John Revill; Editing by Michael Shields)

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