Imagination Technologies more than doubled pre-tax profits for the first half as licensing and royalty income rocketed for its specialist microchip designs. These are used for videos and graphics on smart phones and tablet-computer devices, which are flying off the shelves as they make the journey from luxury accessory to must-have business tool.
The success of the group's microchip business offset losses in its Pure digital radio division. Management blamed caution on the UK high-street, not so much by shoppers as by retailers wary of the January VAT hike.
Management also announced a $27m acquisition, its second in under a month. The target, Caustic Graphics, is an expert in a cutting-edge video technology called ray-tracing.
When: 22 Nov 2010
Price: 314p
Performance to date: -21%
