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(Sharecast News) - IQE reported a sharp increase in first-half revenues on Monday as stronger demand across AI, data centre, wireless and defence markets helped the company swing to a profit.
The company, which specialises in compound semiconductor wafer products and advanced material solutions, said revenue for the six months to 30 June rose 43% year-on-year to £64.6m, from £45.3m, with wireless revenues up 40% to £26.0m and photonics revenues 45% higher at £38.5m.
Adjusted EBITDA improved to £6.0m, compared with a £0.4m loss a year earlier, reflecting higher revenues, increased manufacturing utilisation and a more favourable product mix. The adjusted pre-tax loss narrowed to £8.2m from £16.0m.
IQE said first-half trading exceeded management expectations and that strong momentum had continued into the second half.
It also reiterated full-year guidance for revenue growth of more than 30% and adjusted EBITDA in the low-teens millions of pounds.
Chief executive Jutta Meier said the performance reflected "strong momentum" across AI-driven data centre infrastructure, advanced sensing, wireless and defence applications, alongside better operational execution and product mix.
The company also announced plans to move from AIM to the Main Market of the London Stock Exchange, targeting admission in the first half of 2027.
"Looking ahead, we have initiated a move to the Main Market of the London Stock Exchange, marking an important next step in IQE's development and reflecting the Board's ambition to broaden support for the business and position IQE for the future," Meier said.
The stock was up 2.1% at 48.45p by 1451 BST.
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