News: Suppliers
23 July 2024
IQE expects first-half revenue growth of 25% year-on-year to £65m
In a pre-close trading update for first-half 2024, epiwafer and substrate maker IQE plc of Cardiff, Wales, UK says that it expects revenue to be at least £65m, in line with management expectations. This represents a year-on-year increase of at least 25% from first-half 2023’s £52m and half-on-half growth of about 3% from second-half 2023.
“I am pleased with the performance we have delivered for H1, in an industry which will remain in recovery throughout 2024,” says CEO Americo Lemos. “As markets correct at varying paces, we remain confident in our diversification strategy, which will enable us to take advantage of the growth opportunities ahead.”
IQE expects to report its interim results on 10 September.
IQE’s annual revenue falls 31.2% in 2023, impacted by excess inventory
