Iphone microchip designer Imagination Solutions showed signs that the worst of its raw restructuring was behind it on Tuesday as it halved losses, despite decreasing demand from its biggest customer.
Shares in the Hertfordshire-based group rose by more than 10pc after a combo of the less strong pound and increasing income from its wireless processor chip designs offset falling demand for graphics units from Apple as sales of the iPhone and apple ipad tablet fell.
Imagination also announced that Peter Hill, the former leader of British isles technology group Laird, got been appointed as leader. Mr Hill's appointment represents a reunion with Imagination's chief executive Andrew Heath, with the two familiarised from other days at Alent, the harmful chemicals icon.
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