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

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Most Popular

Forget austerity – governments and central banks have no intention of cutting back
Global Economy

Forget austerity – governments and central banks have no intention of cutting back

Once the pandemic is over will we return to an era of austerity to pay for all the stimulus? Not likely, says John Stepek. The money will continue to …
15 Jan 2021
The MoneyWeek Podcast: bitcoin special
Bitcoin

The MoneyWeek Podcast: bitcoin special

Merryn talks to bitcoin experts Dominic Frisby and Charlie Morris to get the lowdown on the cryptocurrency to find out why it's such a huge global phe…
15 Jan 2021
A simple way to profit from the next big trend change in the markets
Investment strategy

A simple way to profit from the next big trend change in the markets

Change is coming to the markets as the tech-stock bull market of the 2010s is replaced by a new cycle of rising commodity prices. John Stepek explains…
14 Jan 2021
Free 6 issue trial then continue to