Reuters logo
IQE Plc profit rises on wireless business boost
March 20, 2013 / 8:07 AM / 5 years ago

IQE Plc profit rises on wireless business boost

March 20 (Reuters) - British semiconductor materials maker IQE Plc said full-year profit rose 5 percent, helped by a stronger performance in its second half, particularly at its wireless business.

The company said adjusted pretax profit was 8.6 million pounds ($13 million) for the year ended Dec. 31, compared with 8.2 million pounds a year earlier.

Revenue climbed 17 percent to 88 million pounds. For the second half, revenue grew 45 percent to 53.7 million pounds.

“The current financial year has started well, in line with the board’s expectations, with the momentum seen in the second half of 2012 continuing,” IQE said.

Revenue at the company’s wireless unit, which recently bulked up further through the acquisition of U.S.-based Kopin Corp’s wireless business, increased 25 percent to 69 million pounds.

IQE shares were up 2 percent at 30.65 pence in early trading on Wednesday on the London Stock Exchange.

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below