28 Oct 2009

Wind turbine maker's profits rise

9:51 am on 28 October 2009

The world's largest wind turbine maker has reported a big jump in quarterly profits after increasing deliveries of turbines.

Net profit at Vestas for July - September was €165 million ($US246 million), up 70% on the €97 million recorded a year ago. Revenue rose to €1.81 billion from €1.76 billion a year ago.

Vestas also reiterated its full-year sales forecast on expectations of further new orders. It added that "market prospects are beginning to improve".

The BBC reports the results were better than analysts had expected. Shares in Vestas rose 8.5% in Frankfurt.