Jetion sees FY production, revenues, net profit slightly ahead of hopes

LONDON (Thomson Financial) - Jetion Holdings Ltd said it expects full-year production, revenues and net profit to be slightly ahead of its forecasts, adding it sees trading in the calendar year 2008 to be in line with market expectations.

The solar cells and modules maker said it has continued to grow profitably during the second half of the year.

Total production in 2007 was 35.2 MegaWatt, a 151 pct increase in output from the previous year.

Looking ahead, the company in 2008 intends to add a further two production lines, increasing capacity to 100 MW per year, all of which is expected to be used for its own sales.

Jetion said it continues to move production towards modules and is targeting a higher proportion of the production mix to be modules in 2008 and it is expected that 50 pct of cell production will be converted to modules in 2008.

Going further, Jetion said a further machine is expected to be purchased and commissioned in the coming year, expanding capacity to about 17 MW per annum. During 2007, Jetion purchased and commissioned three wafer slicing machines.

Jetion has contracted the sale of its expected production for 2008 and has agreed prices in RMB for sales in the first half.