News Column

Pure Wafer Trading In Line With Expectations, Will Pay Maiden Dividend

July 31, 2014

Sam Unsted

LONDON (Alliance News) - Pure Wafer PLC Thursday said trading in the year to the end of June was in line with market expectations and said it would pay its maiden dividend.

The semiconductor firm said underlying profits were in line with market forecasts, adding that the impact of exchange-rate fluctuations had been mitigated in part by its forward currency purchasing policy.

The group also said the pricing pressure reported in January, driven by adverse dollar-yen movements, has stabilised. It added cost controls, restructuring and an improvement in process yields meant there was no material impact on profitability from the currency shifts.

In addition, the firm said it intends to recommend the payment of a maiden final dividend to shareholders for the year to June.

The company's has closed the year in a net cash position on the back of strong cash generation over the year, and said it invested USD3.7 million in capacity increase and technological advancement during the period.

Pure Wafer said its programme for increasing 300mm capacity by up to 40% had been implemented over the year. It said the increased capacity is now on line and said it had invested in state-of-the-art measuring equipment.

Pure Wafer shares were up 14% to 74.94 pence on Thursday, putting among the top ten risers on AIM.

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Source: Alliance News

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