Revenues slip but upbeat outlook triggers a leap in Imagination

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The City was cheered despite Imagination, based in Kings Langley, Hertfordshire, reporting a 3.5% decline in half-year revenues to  £82.2 million and the group swinging to a pre-tax loss of £10.7 million against a £2.2 million profit a year earlier.

Imagination added that it was seeing not only “significant” shipments of computer-processor chips for mobile and  tablet devices but also “growing volume” in internet-enabled technology for cars and wearables such as health fitness bands.

Chief executive Sir Hossein Yassaie said: “We are now in a position to leverage the investments that we  have made.”

Shares in Imagination today climbed 20.25p to 210.25p — although that was still almost two-thirds below a high posted in 2012.

Source Article from http://www.standard.co.uk/business/business-news/revenues-slip-but-upbeat-outlook-triggers-a-leap-in-imagination-9928100.html

December 16, 2014 |
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