PURE WAFER PLC
(AIM: PUR)
Trading Update
Pure Wafer plc ("Pure Wafer" or "the Company"), the provider of high quality silicon wafer reclaim services for many of the world's leading semiconductor manufacturers, is pleased to provide the following update on current trading in advance of the announcement of the Company's interim results for the period ended 31 December 2011, which is expected to be during week commencing 26 March 2012.
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During the third quarter of 2011 the semiconductor market and Pure Wafer's trading continued along the growth path enjoyed in the previous period as reported in the Chief Executive's report which accompanied the report and accounts for the year to 30 June 2011. Despite a brief slowdown during the fourth quarter of 2011 the semiconductor market continues to show positive signs for 2012.
Pure Wafer has continued to see increased demand for its wafer reclaim services mainly from the US and Asian markets but also from a stable European sector with demand continuing at the higher levels enjoyed during the second half of our prior financial year.
Not withstanding the economic woes of Europe and the US the semiconductor industry is, in part, being fuelled by the increasing demand for hand held devices in the emerging economies of China, India and Brazil, which is encouraging new investment in 300mm silicon wafer manufacturing facilities announced by the major chip manufacturers, giving further wafer reclaim opportunities.
Pure Wafer operations are scaled to accommodate the increasing demand and together with our lower cost of manufacture are well placed to take advantage of this increasing activity.
Solar pv
With the newly formed solar business commencing in earnest during July 2011 we are pleased to report that trading for the period started positively with strong enquiry and order books. Despite the sudden announcement by the UK Government that the Government backed feed-in-tariff would be halved from 12 December 2011, trading has been in line with expectations.
Subsequent to the period end with component material prices falling we have been able to offer our fully installed systems at prices which continue, at the lower level of feed-in-tariff rates, to show a substantial return on investment for our customers. As such, once again our order books are filling with many commercial businesses and property owners as well as homeowners taking up our offering.
We expect that Pure Wafer's solar division will continue to trade strongly and produce results in line with management expectations through the remainder of the financial year.
The Company further confirms that it is meeting all obligations under the financial restructuring agreement, details of which are set out in the annual report and accounts.
Contacts: |
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Pure Wafer Plc | www.purewafer.com |
Peter Harrington, Chief Executive | +44 (0) 1792 311 200 |
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WH Ireland Limited | www.wh-ireland.co.uk |
JN Wakefield / Marc Davies | +44 (0) 117 945 3470 |
