Pure Wafer gives positive trading update

Pure Wafer said it was continuing to enjoy strong demand in the second half and was largely isolated from the eurozone storm.

The firm, which provides 'wafer reclaim' services to semi-conductor manufacturers, said it was seeing increased demand mainly from the US and Asian markets, but also from a stable European sector.

"Pure Wafer and indeed the semiconductor industry as a whole is to a very large extent insulated from the economic problems of the Eurozone with revenues denominated in USD," the firm said in a trading statement.

Start your trial of MoneyWeek today

Get unparalleled financial insight, analysis and expert opinion you can profit from.

Start your trial

Sign up for MoneyWeek’s free twice-daily newsletter.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Sign up

"The semiconductor industry is a global market which is currently being driven by the increasing demand for hand held devices in the heavily populated emerging economies of China, India, Russia and Brazil," it added.

The firm said that its manufacturing sites in Swansea and Prescott were running at record levels of productivity and overall levels of costs were being tightly managed.

This meant Pure Wafer's cost per unit was running at an all time low, it said.

The firm's shares jumped 11% on the news.