Imagination raises revenues as sale process continues

Processor intellectual property company Imagination Technologies Group plc has managed to increase its annual revenue despite a troubled last couple of years. Processor intellectual property company Imagination Technologies Group plc has managed to increase its annual revenue despite a troubled last couple of years.

By Peter Clarke, eeNews, Jul. 05, 2017 – 

For the year ended April 30, 2017 Imagination made a loss of 27.9 million pounds on sales revenue of 145.2 million pounds. The loss was much reduced from 81.3 million pounds in the previous year while sales were up 19 percent.

Licensing revenue was up by 82 percent to 33.9 million pounds(2016: 18.6 million pounds) and royalty revenue was up 8 percent to 111.1 million pounds (2016: 102.7 million pounds). Net debt at the end of year was 28.4 million pounds down from 40 million pounds six months before and down from 33.0 million pounds a year before.

Imagination said that after receiving interest in buying the whole of the company it had decided to initiate a formal sale process on 22 June 2017 and that preliminary discussions are going on with potential bidders. There have been reports that interest has come from China.

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