ABB's makeover nets strong results
Article Abstract:
Asea Brown Boveri AG posted a 24% rise in its 1999 net income to $1.61 billion (1.63 billion euros). The company was helped by its shift to services with higher margins.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2000
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ABB Asea's profit rose 11% last year
Article Abstract:
ABB Asea Brown Boveri AG posted a rise in earnings of 11% for 1998. The earnings figure was higher-than-expected. The company also announced its move to simplify its complicated stock structure. In 1998, net income increased to $1.31 billion from $1.18 billion. This happened despite a fall of 1.3% in revenues to $30.87 billion from $31.27 billion, and a fall of 10% in new orders.
Comment:
Posted a rise in earnings of 11% for 1998; earnings higher-than-expected
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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ABB's Lindahl forecasts higher profit for the year
Article Abstract:
ABB Asea Brown Boveri AG said that its net profits for the 1999 year will be higher than 1998's results. This is according to the company's chief executive, Goran Lindahl. ABB is a Swiss-Swedish electrical engineering firm. Mr. Lindahl added that the company is expecting to see an increase in orders from Asia in 1999. However, Mr. Lindahl said that he did not believe those orders would continue to rise as quickly as the 1999 first quarter.
Comment:
Said its net profits for 1999 year will be higher than 1998's results
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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