Profit rise allows chip firm to fish for new staff

Technology
firm ARM holdings is bucking the trend in the depressed sector by announcing an
increase in staffing levels.

The
UK firm, which designs electronic chips, is increasing its headcount by 16 per
cent to around 738.

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The
increase comes as the company announced pre-tax profits of £15.7m for the first
three months of the year. The figures represented a rise of more than a third
on the same period last year.

The
news should come as a boost to the sector following recent high profile job
cuts at firms including Lucent and Napster.