Guodian Technology posts 42% Y/Y growth in H1 net profit
Aug 24, 2012 - Chinese wind turbine maker Guodian Technology & Environment Group Co Ltd (HKG:1296) on Friday said its net profit for the first half of 2012 had jumped 42% year-on-year to CNY 257.2 million (USD 40.5m/EUR 32.3m).
Earnings per share grew to CNY 0.042 from CNY 0.037.
Operating profit rose by 58.2% on the year to CNY 785 million.
Gross margin for the period improved to 17.1% from 16%, thanks to enhanced margins at the environmental protection segment. That positive effect was in part offset by lower gross margins at the wind and solar products and services segments, due to a drop in wind turbine and solar equipment selling prices and increased competition.
Consolidated January-June revenue grew by 18.6% in annual terms to CNY 8.03 billion. It included wind and solar segment revenues of CNY 5.9 billion and CNY 44.8 million, respectively.
Guodian Technology & Environment is a unit of China Guodian Corp.