IQE sales pick up as customers restock

15th Jul 2009 11:24

Semiconductor wafer products supplier IQE said trading picked up in May and June as customers started stocking up again. It expects the first half to be in line with expectations, with revenues of about £20m and EBITDA of at least £1.2m.The upturn in orders came after customers destocked in the fourth quarter of 2008 and the first quarter of 2009. "We are seeing indicators of strong growth returning to a number of the high-end markets in which IQE operates and as anticipated in the March trading outlook," said chief executive Drew Nelson.