IQE PLC on Tuesday said interim revenue jumped 25% annually, in line with management expectations.
IQE is a Cardiff, Wales-based supplier of compound semiconductor wafer products.
In the first half of 2024, revenue is expected to be at least £65 million, in line with management expectations.
This represents a year-on-year increase of at least 25% from £52.0 million.
Chief Executive Americo Lemos said: ‘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.’
The company expected to report its interim results on September 10.
Its shares were up 1.5% to 31.10 pence each in London on Tuesday afternoon.
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