IQE warns of weaker than expected H1 revenues

“This reduction in customer orders and forecasts is expected to result in a decline of approximately £30 million in reported revenues for H1 2023,” says IQE.

H1 2022 revenues were £86 million so a £30 million fall for H1 2023 is substantial.

“Ours is an industry that has consistently demonstrated growth over many decades,” says IQE CEO Anerico Lemos, “we expect IQE to return to growth in the second half of the year and remain excited about the future as we continue to execute our diversification strategy.”

Lemos has recently been vocal in calling for a  UK government semiconductor strategy like the US and EU Chips Acts, saying that IQE may be obliged to relocate without such a  support scheme in the UK.

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