SULZEMOOS (dpa-AFX) - Phoenix Solar AG (PS4G), a photovoltaic system integrator, reported Thursday that its first-half consolidated net result attributable to the shareholders was a loss of 4.6 million euros, narrower than last year's loss of 6.3 million euros. The loss per share was 0.62 euro, compared to loss of 0.85 euro a year ago.
Phoenix Solar generated consolidated revenues of 53.3 million euros, an increase of 34.1 percent from 39.8 million euros a year ago. The positive performance was driven by Phoenix Solar's subsidiary in the USA as well as strong growth in the Middle East region, in line with the company's current forecast.
Looking ahead for fiscal 2016, the company continues to expect revenues in the range of 180 million euros to 210 million euros, higher than last year's 119.4 million euros. The company still expects a positive EBIT of 2.0 million euros to 4.0 million euros, compared to last year's loss of 1.6 million euros.
Copyright RTT News/dpa-AFX