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The Cardiff based semiconductor business IQE has reported a rise in first half revenues of 2% to £53.2m.

IQE makes and supplies bespoke semiconductor wafers to major chip manufacturing companies, involved in a wide range of high technology systems. Its products are found in many leading-edge consumer, communication, computing and industrial applications, including mobile handsets and wireless infrastructure, Wi-Fi, base stations, GPS, and satellite communications, and optical communications.

Operating profit rose 5% to £6.7m. The Cardiff-based company described the “solid financial performance” as in line with expectations and its July trading update.

Chief executive Dr Drew Nelson was reorted as saying that “IQE’s revenues continue to diversify as its photonics sales grow rapidly. The growth in the photonics business follows on from strong engagement by IQE in its customers’ product development programmes over the past few years.

To find out more visit the IQE website

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