Capital Stage posts 60% increase in pre-tax profit in first half of 2014

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German renewable energy operator Capital Stage AG posted a 51% increase in revenue to €39.5 million ($53 million) in the first six months of the year while pre-tax earnings grew by 60% to €19.8 million.

The Hamburg-based group operates solar and wind parks in Germany, France and Italy and expanded its power generation portfolio through the acquisition of further solar and wind parks in Germany and France in the first half of the year to more than 316 MW, up from 193 MW in the first half of 2013.

The company’s improved profitability was also reflected in its operating earnings (before interest and tax), which rose 52% in the period to €30.6 million, compared to €20.1 million a year ago.

Capital Stage will publish itsfull half year report on August 29.