THE wind turbine manufacturer whose decision to cease UK production sparked an 18-day factory occupation by protesting workers, said half-year revenues were up 29%.
Vestas Wind Systems reported revenues of £1.98bn for the first six months of the year, although profits were flat in the period.
The Dutch firm, which has its UK headquarters in Warrington, shed 425 employees at its sites on the Isle of Wight and in Southampton earlier this month, citing insufficient UK demand as planning hurdles hampered wind projects.
It said margins were squeezed in the second quarter because of severance payments relating to redundancies in northern Europe following lower activity and an increase in staff in its growing US and China markets.
Even after its capacity reductions in the UK and Denmark – where 1,142 employees were laid off – it still has excess capacity in Northern Europe.
Vestas said it shipped a total of 618 turbines in the second quarter, down 12% on last year.
PLANNING LAWS HIT WIND SECTOR: PAGE 10
