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.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

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.