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Spanish wind energy leader Gamesa sees first-half net profits soar

30 July 2008 | Market Watch: News From Around The Web | Source: afp.google.com
Spanish wind turbine maker Gamesa, a sector leader, said on Tuesday its net profits soared during the first-half at a time when record high oil prices are fuelling interest in alternative energy sources.

The company posted a comparable net profit of 93 million euros (146 million US dollars) during the first six months, a 69 percent increase on a directly comparable basis to the same time last year while pro-form first-half core earnings rose 43 percent to 235 million euros.

The results do not take into account the activity of Gamesa's solar energy unit Solar which it sold to US private equity firm First Reserve in February for 261 million euros and the gains made with this operation.

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