Imagination Technologies posts modest revenue growth in first half

Communications and embedded processor technology company Imagination Technologies Group posted a 27 per cent rise in its half-year revenue to 71.4m pounds.

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.

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

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Most Popular

Why we won’t see a house-price crash in 2021
House prices

Why we won’t see a house-price crash in 2021

Lockdown sent house prices berserk as cooped up home-workers fled for bigger properties in the country. And while they won’t rise quite as much this y…
18 Jan 2021
Prepare for the end of the epic bubble in US stocks
US stockmarkets

Prepare for the end of the epic bubble in US stocks

US stocks are as expensive as they’ve ever been. How can you prepare your portfolio for a bubble bursting?
18 Jan 2021
The best investment trusts to buy for 2021
Investment trusts

The best investment trusts to buy for 2021

Sectors ranging from emerging markets to student accommodation look poised to do well this year, says David Stevenson, as he picks the best investment…
19 Jan 2021