Jetion Solar Holdings (LON:JHL) Overcast market conditions but looks decent value at current price!
The China based manufacturer of high quality solar cells and modules issued highly promising interim results for the six months ended 30th June 2010 in what amounted to a very difficult period for manufacturers in the solar space.
With two new lines installed in the period, both of which are now at full capacity, sales volumes were up 123.7% to 83MW resulting in revenue of US$146.7m (H1 2009: US$55.9m). Gross profit was US$ 28.0m (H1 2009: US$ 10.1m) with a 1% improvement in the gross margin largely due to the altered product mix in favour of more profitable solar modules against lower margin cells. Pre-tax profit was US$4.8m (H1 2009:US$3.2m) and basic earnings…
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