16% drop in revenue for radio maker Pure
Imagination Technologies has announced a rise in revenues and pre-tax profits, but income from its digital radio business Pure has fallen.
The company as a whole turned over nearly £1bn in the year to 30 April 2011 – mainly helped by its microchips being used in the Apple iPhone and iPad.
Pure’s revenues dropped from £33.6m last year to £28.2m this year, with Imagination’s Chief Executive Hossein Yassaie saying that sales of digital radios had been hit by the slowdown in consumer spending and caution among retailers.
Overall revenues at the parent company jumped 21% to £98m, with profits up 61% to £16.4m. Imagination shipped 245m microchips during the year, up from 126m in 2009/10. Revenues in the technology division are up 47% too.
Mr Yassaie added: “Our technologies, instrumental in many of the key market trends, continue to gain ground and are powering many market-driving and iconic end-user products. With well over 500m devices across numerous categories having shipped to date, approximately half of this volume during the last financial year alone, we now see a revised target of around 1bn units as a reasonable goal within five years.”