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IQE upgrades guidance as positive momentum continues
StockMarketWire.com
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Semiconductor materials company IQE lifted its guidance on annual revenue as positive performance had continued in the second half of the year
IQE said it expected 2020 revenues to be at least £170m, exceeding the previous guidance of at least £165m, equating to full-year revenue growth of over 20%.
The company said it anticipated delivering a mid-single-digit £m adjusted operating profit for FY20.
Looking ahead to 2021, IQE said it anticipated that strong underlying demand to continue for its products.
'In particular, the group expects demand for 5G-related products, both handset and infrastructure, will continue to grow over the next few years as the mega-replacement cycle of 5G deployments gathers pace around the world.' the company said.
At 10:00am: (LON:IQE) Iqe PLC share price was 0p at 59p
Story provided by StockMarketWire.com
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