IQE trades in line with expectations during H1

Semiconductor group IQE said on Tuesday that trading has been in line with internal expectations throughout the six months ended 30 June.

IQE stated H1 revenues was expected to be at least £65.0m, representing a year-on-year increase of at least 25% and half-on-half growth of roughly 3% from H223.

The AIM-listed group expects to report its interim results on 10 September.

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."

As of 1240 BST, IQE shares were up 1.79% at 31.20p.

Reporting by Iain Gilbert at Sharecast.com