As flagged in IQE’s January trading update, FY20 revenue rose to a record £178.0m, taking the company from an adjusted operating loss of £4.7m to £5.4m profit. This excellent performance was the result of 5G roll-out boosting demand for IQE’s epitaxy in both infrastructure and handsets, combined with consistent demand for photonics epitaxy from IQE’s longstanding VCSEL customer. While these favourable trends have continued into FY21, we are cutting our FY21 revenue estimate by £8.3m and PBT by £9.5m to reflect the strengthening of sterling against the US$.

25 Mar 2021
IQE - Benefiting from start of 5G mega-cycle

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IQE - Benefiting from start of 5G mega-cycle
IQE plc (IQE:LON) | 9.9 0 0.4% | Mkt Cap: 96.7m
- Published:
25 Mar 2021 -
Author:
Anne Margaret Crow -
Pages:
7 -
As flagged in IQE’s January trading update, FY20 revenue rose to a record £178.0m, taking the company from an adjusted operating loss of £4.7m to £5.4m profit. This excellent performance was the result of 5G roll-out boosting demand for IQE’s epitaxy in both infrastructure and handsets, combined with consistent demand for photonics epitaxy from IQE’s longstanding VCSEL customer. While these favourable trends have continued into FY21, we are cutting our FY21 revenue estimate by £8.3m and PBT by £9.5m to reflect the strengthening of sterling against the US$.