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Wind turbine maker Vestas beats quarterly profit expectations
May 5, 2017 / 7:11 AM / in 6 months

Wind turbine maker Vestas beats quarterly profit expectations

COPENHAGEN, May 5 (Reuters) - The world’s biggest wind turbine maker, Vestas, posted better than expected first-quarter operating profit on Friday and stuck to its full-year revenue and profit margin guidance.

Operating profit jumped 148 percent year on year to 211 million euros ($231.6 million), beating the consensus of 183 million forecast in a Reuters poll of analysts, helped by a 29 percent revenue increase and near doubling of its profit margin to 11 percent.

Vestas said it is still forecasting 2017 sales of between 9.25 billion euros and 10.25 billion euros and EBIT margin of 12-14 percent. ($1 = 0.9112 euros) (Reporting by Nikolaj Skydsgaard and Stine Jacobsen; Editing by David Goodman)

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