IQE reports higher annual revenue

IQE plc, the supplier of wafer products to the semiconductor industry, reported a 17 per cent rise in annual revenue on Wednesday.

IQE plc, the supplier of wafer products to the semiconductor industry, reported a 17 per cent rise in annual revenue on Wednesday.

The company posted revenue of £88m, up from £75.3m the previous year, boosted by major transactions with Solar Junction Corporation, RF Micro Devices epitaxy division and epiwafer manufacturing business Kopin Corporation.

Adjusted pre-tax profit rose 5.0% to £8.6m from £8.2m.

IQE experienced the biggest growth in the second half of the year with sales up 45% to £53.7m and earnings before tax, interest, depreciation and amortisation (EBITDA) up 56% to £12.2m.

"IQE has been transformed over the last 14 months," Chief Executive Drew Nelson said.

"Three major transactions, the completion of our capacity expansion programme and the achievement of a number of significant qualifications in both wireless and photonics (optoelectronics) have laid the foundations for accelerated growth in 2013 and beyond."

RD

Most Popular

The MoneyWeek Podcast: Asia, financial repression and the nature of capitalism
Economy

The MoneyWeek Podcast: Asia, financial repression and the nature of capitalism

Russell Napier talks to Merryn about financial repression – or "stealing money from old people slowly" – plus how Asian capitalism is taking over in t…
16 Jul 2021
Three companies that are reaping the rewards of investment
Share tips

Three companies that are reaping the rewards of investment

Professional investor Edward Wielechowski of the Odyssean Investment Trust highlights three stocks that have have invested well – and are able to deal…
19 Jul 2021
The future belongs to emerging markets – three EM stocks to buy now
Share tips

The future belongs to emerging markets – three EM stocks to buy now

Professional investor Carlos von Hardenberg of Mobius Capital Partners picks three of his favourite emerging-market stocks.
5 Jul 2021