Vestas shares jump as cost cuts help reduce losses

Danish wind turbine maker Vestas stood by its outlook for the full year, after reduced cost and higher turbine prices helped it cuts operating losses by over 50 percent and improved its cashflow in the first quarter.

Vestas maintains its full-year guidance and the focus on cost reductions, low investments and increased capacity utilisation continues. In the first quarter of 2013, Vestas generated revenue of EUR 1,096m