ARM rises on record growth in order book

Shares in ARM Holdings surged more than 7 per cent after the semi-conductor technology company confirmed 2007 guidance and said orders continued to grow at record levels.

ARM has had to contend with tough market conditions while the weak dollar hit its profits during 2006, as it derives around 95 per cent of its revenue in the currency, despite half of its costs being denominated in sterling. ARM reported a fourth-quarter loss of £13.4m as a result.

Warren East, chief executive of ARM, said: "We went into 2006 with a record order book and exited the year with an order book 15 per cent higher."