By David Blackwell
Published: September 23 2008 03:00 Last updated: September 23 2008 03:00
The addition of two production lines following flotation on Aim in the summer of last year helped Jetion, which makes solar cells in China's Jiangsu province, lift first-half turnover from $38.6m to $100.7m (£55m).
The company, which exports more than 80 per cent of its output to Europe, hopes to start selling in North America next year.
Pre-tax profits for the six months to June 30 were $12.1m, up from $2.8m.
The shares - pitched at 151p for the IPO, which raised £30m - closed up 1p at 79p. The company said it was considering further expansion .David Blackwell
Showing posts with label Jetion. Show all posts
Showing posts with label Jetion. Show all posts
Thursday, September 25, 2008
Wednesday, January 16, 2008
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.
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.
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.
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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