7th Sep 2021 14:28
IQE PLC - Cardiff-based designer and manufacturer of semiconductor products for 5G technologies - Posts revenue in the six months to June 30 of GBP79.5 million, a fall of 12% from GBP89.9 million a year earlier. IQE narrows its pretax loss to GBP2.7 million from GBP5.0 million. The company warns it is experiencing a "significant foreign exchange headwind". Trading for the first half was in line with previous guidance.
Annual revenue and earnings before interest, tax, depreciation and amortisation are expected to be similar to last year on a constant currency basis.
"Today's results reflect the resilience of our business and highlight the ongoing commitment and hard work of our people who have, despite additional headwinds, largely sustained the record levels of performance at IQE that we reported a year ago," comments outgoing Chief Executive Drew Nelson.
Current stock price: 46.50 pence, down 12% on Tuesday
Year-to-date change: down 37%
By Will Paige; [email protected]
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