Silicon chip recycler Pure Wafer returned to profit last year, boosted by semi-conductor industry growth and refinancing.
The Swansea-based company said that it had made a pre-tax profit of £132,000 for six months to 31 December, compared to a loss of £463,000 during the same period the previous year. Revenue rose to £12.2m from £11.8m over the period.
The AIM-listed company, which recycles silicon wafer semi-conductors used in electronic devices, said that productivity was at “highest ever levels”.
Pure Wafer chairman Stephen Boyd said the company had benefited from the growth of the semi-conductor industry, especially in Asia and the US.
The company also completed a refinancing in January resulting in a significant repayment of debt which it said had given long term stability to the company.
Boyd said: “The increased volumes have come from industry growth together with an increased market share from both Asia and the US. This has enabled both manufacturing sites at Swansea and Prescott [in the US] to once again raise production levels without any significant increases in labour and to run at record levels of productivity.”
“With long term growth forecast for the industry we believe that our significantly strengthened financial position will give us a strong foundation for future growth and we view the future with confidence.”