Wafer firm hits a high

Hi-Tech wafer manufacturer IQE yesterday saw its shares hit an eight-year high after its recent positive trading outlook.

The Aim-listed Cardiff company posted a trading update in July which showed strong wireless product sales and increasing demand for optoelectronic and silicon-based wafers. It meant that the company was able to say that its first-half performance would be “significantly ahead of market expectations”.

Yesterday saw the firm reach 23p per share on the back of its positive outlook.

The group expects to report first-half revenues to June 31 of at least £32.8m and retained profit of more than £2m. Compared with the first half of 2009, revenues would be up by more than 50%.

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4 August 2010

Source: Wales Online