Imagination Tech sees better H2 after interim profit fall

LONDON, Dec 16 (Reuters) - Imagination Technologies (Other OTC: IGNMF - news) , the British company that supplies graphics processing to Apple (NasdaqGS: AAPL - news) , reported a 75 percent drop in adjusted profit in the first half, reflecting heavy investment in its product line.

The company said its now complete product line would help deliver a much stronger second-half financial performance.

Imagination, which designs chips for graphics and video, reported adjusted profit of 3.3 million pounds ($5.2 million) for the six months to end-October, down from 13.2 million pounds a year earlier, on revenue of 82.2 million pounds, down from 85.2 million.

($1 = 0.6384 pounds) (Reporting by Paul Sandle; editing by Kate Holton)