GO
Loading...

ABB sees fourth-quarter net profit of $525 mln

Wednesday, 22 Jan 2014 | 2:08 AM ET

ZURICH, Jan 22 (Reuters) - ABB said it expected fourth-quarter net profit of $525 million, after a profit warning for its power division earlier on Wednesday.

The Swiss technology group's financial chief Eric Elzvik made the comments on a call to investors after it said its power division would miss quarterly profit targets because of $260 million in charges due to project delays following storms in the North Sea and restructuring costs.

ABB, which publishes full earnings on Feb. 13, reported third-quarter profit of $835 million in October.

(Reporting by Katharina Bart; Editing by Mark Potter)