Business

Wind turbine maker Vestas back in profit

Offshore wind turbines
Image caption Vestas expects to deliver a lot more energy-generating capacity this year than in 2010

Shares in Vestas, the world's largest wind turbine maker, have jumped 23% after the company reported a strong order book and a return to profit.

Net profit for the second quarter was 55m euros ($80m; £48m), compared with a loss of 143m euros a year earlier. Revenue rose by 36% to 1.4bn euros.

The company suffered heavy losses in the first quarter.

Vestas said it expected to deliver 50% more energy capacity this year compared with 2010.

"Despite global uncertainty, we feel that Vestas is in a good position to get the order intake that we have outlined," said chief executive Ditlev Engel.

The Denmark-based company currently delivers about 40% of the world's offshore turbines.

In October last year, Vestas was forced to announce plans to cut 3,000 jobs, or 15% of its workforce, due to weak demand for wind turbines.

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