IQE profit jumps 51 pct due to acquisitions, cost cuts

March 26 (Reuters) - British semiconductor materials maker IQE Plc said full-year profit rose 51 percent, helped by acquisitions and cost cuts.

Adjusted pretax profit rose to 13 million pounds ($21.46 million) in the year ended Dec. 31 from 8.6 million pounds a year earlier.

Revenue jumped 44 percent to 126.8 million pounds, including a 31 million pound contribution from Kopin Wireless that IQE (LSE: IQE.L - news) acquired in January 2013.

The company, whose products are used in microchips used in smartphones, tablets and GPS equipment, said it was confident of achieving 2014 earnings expectations. ($1 = 0.6059 British Pounds) (Reporting by Tasim Zahid in Bangalore; Editing by Joyjeet Das)