Jan 23 (Reuters) - British semiconductor wafer maker IQE

said on Thursday its 2024 sales and core earnings would

exceed its earlier expectations, helped in part by cost-control

measures.

The Apple ( AAPL ) supplier said it now expects annual

revenue of 118 million pounds ($145.2 million) and adjusted

earnings before interest, taxes, depreciation and ammortization

of at least 7.5 million pounds.

In November, it had forecast flat year-on-year sales of

around 115 million pounds and core earnings of at least 5

million pounds, and had launched a strategic review of its

assets.

IQE has faced a challenging environment due to sluggish

recovery in the semiconductor industry and the growing

significance of supply chain security over cost, amplified by

rising U.S.-China tensions.