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

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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