'Big in Japan' UK chip firm posts positive results

TTP making money in a time of recession...

UK chip firm TTP Communications has reported strong first half results - with profits up 45 per cent on revenues that more than doubled compared to the first half of 2000. Despite the downturn in the sector, TTP beat analyst expectations on the back of continued successes in overseas markets, particularly in Japan where the company's chips have been an integral part of the design of 3G phones. Licensing revenues for the first six months doubled to £12.3m, up from £5.9m, and total revenue rose 61 per cent to £18.4m. Pre-tax profits for the first half were £2.5m.