24th Sep 2013 06:56
LONDON (Alliance News) - Pure Wafer PLC Tuesday said it full-year pretax profit will be significantly ahead of market expectations as it continued to experience high demand for wafer recycling at its plants in both Wales and Arizona.
In a trading update, the silicon wafer recycling company said it expects to report strong trading ahead of current market expectations when it releases its preliminary results for the year ended June 30 on October 1.
"As previously indicated, Pure Wafer has continued to experience high levels of demand for its wafer recycling services at each of its Swansea, UK and Prescott, Arizona plants which have both achieved record levels of trading during the period," the company said in its statement.
Earnings before interest, tax, depreciation and amortisation will be higher then the previous year, buoyed by the strong demand and cost control, it said.
It will also report a USD2.3 million reduction in depreciation and amortisation after a review of the useful lives of all its fixed assets. It said it has more money to invest in its plants after it GBP4.5 million placing earlier this year.
By Steve McGrath; [email protected]; @SteveMcGrath1
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