JETION HOLDINGS (LON:JHL) – good results, shame about the communication concerns!
The AIM quoted designer, manufacturer and supplier of high quality solar cells and modules announced a fantastic set of results for the twelve months ended 31st December 2008.
Sales were up 141% to US$250.9m, gross profit up 168% to US$40.8m, gross margin up 11.6% to 16.3%, pre -tax profit up 328% to US$20.1m. Pro-forma earnings per share were up 160% to US 24.0 cents. At the operating level the business appears to continue to perform superbly. Cell manufacturing capacity doubled in the year to 100MW and module capacity increasing to 60MW pa. Revenue breakdown was China 24% Germany 56% Spain 16%) Italy 2% and other emerging markets 2%. They have established relationships with a number of respected solar buyers, such as Schüco, Mage Solar and Bayerische Solar. The…