News Article
IQE gives trading update
Company announces strategic progress underpinned by continued revenue growth
Compound semiconductor wafer company IQE has provided a pre-close trading update for the six months ended 30 June 2024.
Revenue for the first half is expected to be at least £65M, in line with management expectations. This represents a year-on-year increase of at least 25 percent (H1 2023: £52.0m) and half-on-half growth of c.3 percent from H2 2023.
The group expects to report its interim results on 10 September 2024.
Americo Lemos, CEO of IQE, commented: "I am pleased with the performance we have delivered for H1, in an industry which will remain in recovery throughout 2024. As markets correct at varying paces, we remain confident in our diversification strategy which will enable us to take advantage of the growth opportunities ahead."
