German Solar Firm Sees Profits Soar in '04
FRANKFURT - Germany's SolarWorld expects 2004 profits to be higher than earlier forecast and may split its shares after they rose by almost 15 times over the past two years, the solar power company said on Thursday.
The firm, which makes raw materials and parts used to produce energy from solar power, has benefited from rising demand for renewable energy, which receives strong government sponsorship in Germany.
Chief Executive Frank Asbeck told Reuters that SolarWorld's 2004 profit is expected to come in higher than its own forecast of 14 million euros ($18.5 million).
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