By Jess Jones
Global semiconductor supplier IQE has performed in line with expectations during the first half of the year.
The British manufacturer will hit a revenue of “at least” £52m in line with market guidance and management expectations, IQE said today in an unaudited pre-close trading update for the six months ended 30 June 2023.
The AIM-listed company’s shares notched up 3.5 per cent this morning though settled to close up flat.
During the first half of 2022, IQE reported revenue of £86.2m.
IQE said they continue to “effectively navigate the challenging macroeconomic environment,” by managing costs and implementing their diversification strategy.
It comes amid a rocky patch for the global semiconductor industry which was hit by supply chain issues in the pandemic and has faced a slowdown as demand for smartphones cools.
The firm said it will post their full unaudited interim results on 8 September 2023.
Cardiff-headquartered IQE supplies semiconductors for smart devices, communications, and the automatic and aerospace industries, among others. It has manufacturing sites across the UK, US and Taiwan.
