Tuesday, September 25, 2007

Jetion Maiden H1 net profit up 90 pct; revenue up 149 pct

09.24.07, 5:37 AM ET

LONDON (Thomson Financial) - Solar cell maker Jetion Holdings Ltd said its net profit for the first half nearly doubled as revenues surged 149 pct on robust demand for solar products.

For the first six months to end-June, the company's profit increased 90 pct to 3.6 mln usd and revenue jumped to 38.6 mln usd from 15.5 mln usd.

Jetion said it had raised 27.9 mln usd of net new funds which will be used to further expand its cell manufacturing capacity to 100 MW per annum by the end of 2008.

'Jetion has successfully increased its production capacity, and following the IPO and raising of new funds, the company is on track to double its capacity again by the end of 2008,' chairman Dipesh Shah said in a statement.

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