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Imagination Technologies hits revenue of £98m, but Pure radio division disappoints

Imagination Technologies, parent company of radio manufacturer Pure Digital, saw revenues rise by 21% in the year to April 30th 2011 to almost £1bn (£98m). Pre-tax profits jumped 61% to £16.4m.

The British company, which makes microchips used in the Apple iPhone and iPad, shipped 245 million microschips in total, compared to 126 million in 2009/10.

Its technology division saw a 47pc increase in revenues to £69.8m, offsetting a weaker performance from its digital radio business, Pure, where revenues dropped from £33.6m to £28.2m.

Chief executive Hossein Yassaie admitted that sales of digital radios had been hit by the slowdown in consumer spending and caution among retailers, but predicted it will pick up in the medium-term and in international markets.

Nervousness among City analysts about the Pure radio business saw Imagination's shares drop by 15.5p to 417.5p this morning.

For more on Pure and Imagination Technologies, read our industry insider blog.

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Andy Clough

Andy is Global Brand Director of What Hi-Fi? and has been a technology journalist for 30 years. During that time he has covered everything from VHS and Betamax, MiniDisc and DCC to CDi, Laserdisc and 3D TV, and any number of other formats that have come and gone. He loves nothing better than a good old format war. Andy edited several hi-fi and home cinema magazines before relaunching whathifi.com in 2008 and helping turn it into the global success it is today. When not listening to music or watching TV, he spends far too much of his time reading about cars he can't afford to buy.