Neo Solar's Oct 2013 revenues soar 178% Y/Y

Nov 7, 2013 - Taiwanese solar cell maker Neo Solar Power Corp (TPE:3576), or NSP, said it had boosted its revenues by 179.56% year-on-year TWD 2.3 billion (USD 78m/EUR 58m) in October.

The company also saw a 1.31% top line improvement in month-on-month terms, marking the 10th month in a row with higher revenues. Neo Solar explained that the improved performance was as a result of strong market demand and increased solar shipments. It noted that the number of solar power systems is rising not only in Japan, the US and China but also in emerging markets.

For the first 10 months of 2013 the company reported revenues of TWD 15.35 billion or 41.64% more than in the same period of 2012.

In June Neo Solar wrapped up its merger with domestic sector player Delsolar Co Ltd (TPE:3599).

(TWD 10 = USD 0.340/EUR 0.251)

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