IQE’s full year trading update confirmed that the anticipated VCSEL ramp up is driving upgrades to all forecast years. The Photonics division is on track to achieve c.100% revenue growth, well ahead of our prior 50% forecast. Total FY’17 revenue is expected to be at least £150.0m, with adj. PBT c.4% ahead of expectations despite a reduction in high margin licence income. We expect the strong growth in Photonics to continue, resulting in c.17% adj. PBT upgrades in FY’18. With the number of device ....
