UK tech stocks are on the up this year as favourable financial results prompt investors to plough their money back into the sector.

Two in five FTSE-listed tech firms that have announced results in the last six months have enjoyed a share price spike of more than 10 per cent post-announcement, according to research from KPMG.

Fewer than a third (30 per cent), saw their share price drop on the day of their financial results announcements, the market watcher said.

The bounce in UK tech stocks this year has been exemplified by channel behemoth Computacenter, whose share price has risen from less than £1 at the start of the year to £3.14 today.

Jonathan Stankler, technology partner at KPMG, said nervous investors had been reassured by the prognosis of these tech firms.

“The technology sector has certainly not been immune to the nervousness of the market, but UK companies have seen investors reassured by their most recent results and sentiment,” he said.

“Many of the UK’s top companies have enjoyed considerable share price increases as a result of their performance and outlook.”