Profits Light up Carmanah

Friday, March 17, 2006

VICTORIA -- Light maker Carmanah Technologies Corp. reported higher profits last year on a huge jump in revenues helped in part by an acquisition in the solar lighting field. The Victoria company said late Thursday it earned a net profit of $680,962 last year, a 15 per cent increase over 2004. Per-share profit figures were not available. Annual revenues rose 144 per cent to $38.7 million. Revenues were helped by last July's acquisition of Soltek Powersource Ltd., the largest Canadian supplier of proprietary solar power systems and equipment.