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Cambridge tech firm profits rise

Cambridge technology firm ARM Holdings has announced a rise in revenue and pre-tax profits.

The chip designer, whose technology powers everything from mobile phones to tablet computers reported a 22% rise in pre-tax profits to £128.5m in the first half of the year. Revenue also soared 12% to £422.4m

ARM shares rose 6% in the FTSE 100 Index as it also revealed it had signed a further 23 licences in the period for its microchip technology to be used in a range of products including digital TVs, mobile computers and smartphones.