But nearly all the company’s gains came on the back of strong volume growth, as sales prices continue to drop across its core markets of polysilicon, wafer and modules.

The Oslo-based firm expects a further 5% drop across all segments in the first quarter of 2011.

REC raked in revenues of NKr13.78bn ($2.38bn) in 2010 – a 56% increase over its haul in 2009.

After