Sunpower Group posts 44% rise in 1Q net profit to $2.8m

Mainboard-listed Sunpower Group, the China-based heat transfer technology specialist, posted a 43.7% y-o-y increase in net profit attributable to shareholders to RMB14.6 million ($2.8 million) for the first three months ended 31 March 2011 (1QFY2011) on the back of 40.3% increase in revenue to RMB226.6 million. Sunpower says the double-digit growth is due to strong demand arising from the group’s heat exchangers and pressure vessels segment.