Revenues slip but upbeat outlook triggers a leap in ImaginationComments Off on Revenues slip but upbeat outlook triggers a leap in Imagination
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.