IQE Reports Turnaround Half-Year Profit Amid AI and Data Centre Demand Surge
IQE Plc Achieves Profitability Driven by AI and Data Centre Demand
Strong Half-Year Performance
Sept 7 (Reuters) - British chip components maker IQE Plc posted a half-yearly core profit on Monday, compared to a year-ago loss, helped by strong demand from AI infrastructure and data centre and defence customers.
Market Recovery and AI Boom
After a slowdown in the electronics market and disruption linked to U.S. tariffs, Wales-based IQE is benefiting from a boom in AI usage and the subsequent demand for equipment used in data centre construction.
Financial Results
The company reported adjusted core profit of £6 million ($8.11 million) for the six months ended June 30, compared with a loss of £0.4 million in the prior-year period.
Outlook and Strategic Plans
Continued Momentum and Forecast
IQE said positive momentum has continued into the second half after first-half performance exceeded management expectations. It reiterated its full-year forecast.
Market Listing Ambitions
IQE, which is currently listed on London's Alternative Investment Market, said it intends to seek admission of its shares on the Main Market, targeting completion in the first half of 2027.
Exchange Rate Information
($1 = £0.7400)
(Reporting by Neeshita Beura in Bengaluru; Editing by Jochelle Mendonca)
