ZURICH: Swiss engineering group ABB reported a surge in orders from the energy industry in the third quarter, but warned of headwinds from the slowing global economy.

The volume of new orders surged almost a quarter over the period, helped by large contracts in the energy infrastructure, oil and gas industries.

But net profit dropped 12 percent to $734 million (576.9 million euros) between July and September from the level a year earlier, dragged down by a weak performance in its Power Systems unit.

Revenue dropped seven percent to $9.8 billion, the company said in a statement, warning that weak growth in Europe and the Ebola crisis could offset positive signs in the world’s top economies, China and the US.

“In the short term, macroeconomic and geopolitical developments are signaling a mixed picture with increased uncertainty,” it said in a statement.

“The market remains impacted by slow growth in Europe, political tensions in various parts of the world as well as the health situation in Africa.”