China Suntien Green Energy net profit grows 81.5% Y/Y in H1 2010
(ADPnews) - Oct 18, 2010 - China Suntien Green Energy reported on Monday a net profit of CNY 147 million (USD 22m/EUR 16m) for the first half of 2010, up by 81.5% year-on-year.
During the period, the company's wind power and natural gas businesses grew significantly, on the back of the recovering domestic economy and government support for clean energy projects.
China Suntien's wind power unit posted an operating profit of CNY 150 million, up 85.2% on the year, as a result of expanded manufacturing capacity and higher production figures. Revenue of the division rose by 86.6% to CNY 237 million, fuelled by enhanced power generation.
The consolidated revenue of the company went up by 46% to CNY 1.02 billion.
At June 30, China Suntien operated 606.2 MW of installed wind power capacity.