Embattled LDK Solar pins hopes on second-half upswing

With another quarterly loss under its belt, China’s LDK Solar is leaning heavily on the goodwill of its banks and local government officials as it waits for an upturn in its fortunes.

The Chinese PV group made an operating loss of $135.8m in the three months ending March 31 on revenue of $200m – its fourth loss-making quarter in a row – but held out the prospect of a big improvement in the second half of the year.

The last time LDK was in the black was at the same stage in 2011, when it posted an operating profit of $196.1m on sales of $766.3m.

The first-quarter results were below analysts’ expectations, and shares in New York-listed LDK fell more than 5% in early trading…

Become a Recharge subscriber!

Or try our free trial.

Order Subscription

Already a member?

Login

Recharge App


Dowload the Recharge Mobile App
Get the free Recharge subscriber app on your device running iOS or Android.
Read Recharge anytime and anywhere.
Recharge IOS App