ABB’s net income for the first half of the 2017 rose 38% to $1249m, compared with $906m in the same period last year.
The company said the result was impacted by lower restructuring and restructuring-related expenses. The half-year results also include the impact of the sale of ABB’s high voltage cable business.
However, orders were down 5% on last year at $16,752m from $17,569m, and revenue also dipped to $16,308m from $16,580m.
ABB said the overall global market is impacted by modest growth and increased uncertainties, such as Brexit in Europe and geopolitical tensions in various parts of the world.
The company described 2017 as a “transitional year”.
Image: ABB
