Imagination has released an update on its restructuring activates. The group will reduce its cost base by an additional £12.5m on a net annualised basis. This is on top of the £15m of cost savings previously announced, bringing total savings to £27.5m. Importantly, the three core businesses, PowerVR, MIPS and Ensigma will be unaffected by these cuts. We recently outlined a scenario involving £8.5m of additional savings, which resulted in us increasing our target price to 191p. Today’s announceme ....
17 Mar 2016
Significant further cost reductions
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Significant further cost reductions
Imagination Technologies Group (IMG:LON) | 0 0 0.0%
- Published:
17 Mar 2016 -
Author:
Oliver Knott -
Pages:
3
Imagination has released an update on its restructuring activates. The group will reduce its cost base by an additional £12.5m on a net annualised basis. This is on top of the £15m of cost savings previously announced, bringing total savings to £27.5m. Importantly, the three core businesses, PowerVR, MIPS and Ensigma will be unaffected by these cuts. We recently outlined a scenario involving £8.5m of additional savings, which resulted in us increasing our target price to 191p. Today’s announceme ....