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.
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.
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.
IQE said positive momentum has continued into the second half after first-half performance exceeded management expectations. It reiterated its full-year forecast.
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.
($1 = £0.7400)
(Reporting by Neeshita Beura in Bengaluru; Editing by Jochelle Mendonca)
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