IQE revenue is set to jump in the first half after the compound semiconductor wafer product market recovered during the period.
The company, listed on AIM, expects to report revenue of at least £65 million for the period ending 30 June 2024, representing a 25% year-on-year increase compared to the £52 million reported in the first half of 2023 and 3% increase on the second half of 2023.
IQE shares were 1.79% higher at the time of writing.
“I am pleased with the performance we have delivered for H1, in an industry which will remain in recovery throughout 2024. 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,” said Americo Lemos, Chief Executive Officer of IQE.