Imagination leaps to a record as the latest iPad is unveiled

Shares in Imagination Technologies, the British company that designs graphics chips for Apple mobile devices, hit a record high yesterday,a day after the unveiling of the latest iPad.

"Revenue showed good growth against last year," said the chief executive, Hossein Yassaie, referring to sales in the second half of its financial year. Imagination would not confirm whether it was involved in the new iPad, dubbed iPad3. But Apple has a near-10 per cent stake in the company. The shares shot up 50.5p to 652p.