UK's IQE posts half-year profit on AI infrastructure demand

Sept 7 — 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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