China Longyuan Full-Year Profit Doubles on Increased Capacity
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China Longyuan Power Group Corp.’s profit more than doubled last year as the country’s biggest wind developer by market capitalization increased capacity at home and said it would prioritize projects abroad.
Net income rose to 2.02 billion yuan ($307 million) in 2010 from 894 million yuan a year earlier as revenue increased 46 percent, the company said today in a statement to the Hong Kong stock exchange. That compares with a 1.86 billion-yuan profit estimate in a survey of 20 analysts compiled by Bloomberg.