IQE FY revenues and capex seen in line with previous guidance

Compound semiconductor wafer products supplier IQE said on Tuesday that full-year revenues and capex were both expected to be in line with previous guidance.

IQE stated revenue for the year ended 31 December was projected to be in line with guidance of roughly £164.0m issued back in November, while the group's cash capex spend for the year was expected to be roughly £14.0m-17m, resulting in a net debt position of about £6.0m.

The AIM-listed firm will report its full-year financial results on 29 March.

Chief executive Americo Lemos said: "Having joined the business in January I am pleased we have delivered revenues in line with our November 2021 trading update. I have been very impressed by the calibre and commitment of the colleagues I have met during my first weeks with IQE as well as the quality of our world-leading innovation.

"I am very excited about the potential growth associated with macro technology trends and IQE's position at the heart of these future products."