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IQE Interims – look at that shiny new debt facility: sell

Tom Winnifrith
Wednesday 4 September 2019

Bulls claim to be delighted. Having issued a shocking profits warning on June 21, IQE has served up half year numbers which reconfirm full year guidance. There is no follow up profits warning. Well not yet. But bears have real reasons for cheer. Having stated in June that it could operate within its existing £27 million overdraft into Q1 2020, we see today that the company has secured an additional £30 million asset financing (expensive debt). Ok, no bailout placing pro tem but a sign that cash continues to be burned.

About Tom Winnifrith
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Tom Winnifrith is the editor of TomWinnifrith.com. When he is not harvesting olives in Greece, he is (planning to) raise goats in Wales.
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