7 Jan 2008 07:01
PV Crystalox Solar PLC07 January 2008 PV Crystalox Solar Trading update PV Crystalox Solar plc is today providing a further trading update to that given on 3rd December. This update is based upon a review of recent management accounts and initial indications of the full year results. Following a strong financial performance in the final part of the year, theBoard now expects EBIT before non-recurring costs (IPO costs and EmployeeBenefit Trust costs) for the year to 31 December 2007 will be ahead of marketestimates and not less than €70m. For further information contact: PV Crystalox Solar PLC Tel: +44 (0)1235 437160 Iain Dorrity, Chief Executive Officer Peter Finnegan, Chief Financial Officer Gavin Anderson & Company Tel: +44 (0)20 7554 1400 Robert Speed Kate Hill Notes to Editors PV Crystalox Solar, initially established in the UK in 1982, is a highlyspecialised supplier to the world's leading solar cell manufacturers, producingmulticrystalline silicon ingots and wafers for use in solar electricitygeneration systems. The Group was one of the first to develop multicrystallinetechnology on an industrial scale, setting the industry standard for ingotproduction. The Group manufactures silicon ingots in Oxfordshire, United Kingdom, with themajority of its output shipped to Japan, where it is sold either as ingots or aswafers after processing by a sub-contractor. The balance of its output isprocessed into wafers for European customers at the Group's facilities in Erfurt, Germany. PV Crystalox Solar was admitted to the main market of the London Stock Exchangeon 11 June 2007. On 11 September 2007 the Group reported its half year resultsfor the period ending 30 June 2007. PV Crystalox Solar's production output overthe period was 89MWp. Total sales revenues increased by 8% and earnings beforeexceptional items increased by 13.3% on the corresponding period in the previousyear. This information is provided by RNS The company news service from the London Stock Exchange