Communications and embedded processor technology company Imagination Technologies Group posted a 27 per cent rise in its half-year revenue to 71.4m pounds.
Strong technology performance maintained with revenues increased 34% to £57.3m. Royalty revenue jumped 66% to £39.1m and adjusted pre-tax profit was up 10% to £16.8m.
The company saw strong growth in its technology business, with partner chip volumes up 90% to 237m.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Hossein Yassaie, Chief Executive Officer at Imagination Technologies Group, commented: "An increasingly diverse range of product shipments, across our many partners and in all regions, have resulted in more than 90% growth in unit shipments to 237m for the first half - ahead of our target. On average around 1.5m devices are now being shipped with our IP daily, despite the global economic environment.
"The group is continuing to build on this momentum and with further significant chip and end-product level design wins anticipated we now expect the full year unit shipments to be close to the 500m unit mark."
He added: "We remain confident of our continued good progress given the growing demand across our IP families, the growth in design wins across a widening range of end user markets and the momentum in our partners' chip volume."
Imagination Technologies is listed in the FTSE 250 and has a market capitalisation of £1,187.21m.
MF
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
