Denmark

Denmark

Blade maker LM Glasfiber announces half year results

LM Glasfiber increased its turnover by 20% in the first six months of 2005 compared with the same period last year thanks to improved sales in Asia and North America, reports the company. It produces blades in both regions. But profit in the first half year fell from DKK 95 million (EUR 12.75 million) to DKK 89 million (EUR 11.94 million). As yet, not all raw materials and components are available locally in the United States, says LM. In addition, profits were hit by higher raw material prices. Turnover in the first half of the year was DKK 1099 million (EUR 147. 47 million) compared with DKK 915 million (EUR 122.74 million) in the first half of 2004. LM expects the increase in turnover to balance out in the second half of the year. The company delivered blades for 1308 MW of installed capacity in the first six months of 2005 -- 23% more than in the same period last year.

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