25th Nov 2020 06:58
IQE PLC - designer and manufacturerer of semiconductor products driving connected 5G technologies - Announces Chief Executive Drew Nelson plans to step down once a successor has been found. Says that, following any necessary handover period, Nelson will become a board member with the title of president. Announces additionally that trading in the second half of 2020 has been "good", with positive momentum in both the Wireless and Photonics arms. Expects revenue of at least GBP170 million, up from GBP150 million a year prior. This breaks through the previous guidance of GBP165 million, announced back in September. Anticipates that underlying demand will remain strong into the 2021 calendar year.
Current stock price: 63.00 pence
Year-to-date change: up 29%
By Greg Roxburgh; [email protected]
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