LONDON (ShareCast) - Shares in Imagination Technologies rallied after the system-on-chip designer said it has a strong pipeline of prospects after major deals with the likes of Texas Instruments, NEC and Intel helped lift it into the black last year.

The company, which is changing its year-end , announced pre-tax profits of £1.9m in the 13 months to 30 April 2008, compared with a pre-tax loss of £2.3m in the 12 months to 31 March 2007.

Revenue grew to £60m from £48.1m, an increase of 15.3% on a pro-rata basis. Revenue in the technology business was £29.9m (£27.6m pro-rata), up from £21.7m last year, while sales from the PURE digital radio business rose to £30.2m (£27.8m pro-rata) from £26.3m a year earlier.

Licensing revenue rose strongly by 46% to £19m from £13m a year earlier as a result of a significant number of licensing agreements signed during the period.

Flat panel speaker technology firm NXT said it has raised about £0.5m through a placing of 3.76m new shares at a price of 13.3p each.

The placing price represents a discount of 9.8% to the closing middle market price of 14.75p per share on 23 June.

The group said the funds have been raised to underpin it’s balance sheet during the implementation of previously indicated strategies.

FTSE TechMARK - Risers
Imagination Technologies (IMG) 59.50p +12.26%
Ardana (ARA) 7.38p +11.31%
Corin Group (CRG) 170.75p +7.05%
Skyepharma (SKP) 6.17p +5.29%
Oxford Biomedica (OXB) 24.00p +4.35%
Filtronic (FTC) 78.00p +3.65%
Psion (PON) 119.00p +3.48%
NXT (NTX) 15.00p +3.45%
KCOM Group (KCOM) 37.00p +2.78%
Alizyme (AZM) 19.75p +2.60%

FTSE TechMARK - Fallers
Emblaze (BLZ) 34.50p -9.21%
Endeavors (END) 1.48p -7.50%
Macro 4 (MAO) 97.50p -5.80%
Phytopharm (PYM) 20.50p -4.65%
Vernalis (VER) 5.20p -3.88%
Torotrak (TRK) 18.75p -3.85%
Trafficmaster (TFC) 30.00p -3.23%
Innovation Group (TIG) 16.00p -3.03%
Kofax (KFX) 197.00p -2.48%
Sepura (SEPU) 91.00p -2.41%

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