Goldwind profits as sales rise 51%

Goldwind turbines go up in China

Goldwind turbines go up in China

Chinese wind number-one Goldwind boosted profits by more than half in the first quarter of the year.

Goldwind posted a net profit of 50.8m yuan ($8.1m) for the January-March period, a 56.5% uplift on the first quarter of 2013.

Sales were 51% higher at 1.43bn yuan.

Goldwind has emerged as the dominant wind turbine supplier in China, and leaped to the global number-two position last year with a 10.3% share of the world market, according to figures from analyst MAKE.

The company told investors on the Hong Kong Stock Exchange today it has an order book totalling 4.3GW, including 345MW from outside China.

Goldwind has aggressively chased overseas expansion, with increasing success. Today it announced that it had won an order to supply 215MW to a wind farm in Panama.

An additional 3.8GW of winning bids are awaiting the signing of contracts, it added.

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