Jetion
Jetion is a fast growing manufacturer of high quality solar cells and solar modules. The company's manufacturing operations are in China, but it exports 100% of its production into the European and North American markets.
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Jetion Holding lifted by strong full-year results, upbeat outlook
Solar cells and modules maker Jetion Holdings Ltd (AIM: JHL) reported a year of strong growth despite the turbulent market conditions that cought up with the company in the fourth quarter of the financial year to December 2008.
The upbeat statement and the results pleased investors, and the stock was trading up more than 16 percent in early deals.
Sales in the full year rose 141 percent from a year earlier to US$250.9 million, generating pretax profits of US$20.1 million, up from US$4.7 million in 2007.
In a January trading statement, Jetion had said the final quarter of 2008 saw a substantial reduction in trading conditions as experienced by the wider solar market, offset by reduced purchase prices for silicon, adding it saw indications that market conditions were returning to a more normal pattern.
Chairman Gabriel Kow said today: “Despite the turbulent market conditions that emerged in Q4 2008, the company has established a strong foundation to deal with the challenges ahead. I continue to be optimistic about the company in 2009 and strongly believe that we will continue to move forward in accomplishing our goals.”
Since March 2009, operating conditions of the company have substantially returned to the same level as the corresponding period last year and it has had steady orders from its customers. Jetion is confident it will accomplish its targets in 2009.
