Imagination Tech sees better second half after interim profit fall
LONDON (Reuters) - Imagination Technologies, the British company that supplies graphics processing to Apple, reported a 75 percent drop in adjusted profit in the first half, reflecting heavy investment in its product line.
The company said its now complete product line would help deliver a much stronger second-half financial performance.
Imagination, which designs chips for graphics and video, reported adjusted profit of 3.3 million pounds for the six months to end-October, down from 13.2 million pounds a year earlier, on revenue of 82.2 million pounds, down from 85.2 million.
(Reporting by Paul Sandle; editing by Kate Holton)
