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Imaginatik wins two new customers, secures loan

Mon, 14th Apr 2014 12:37

AIM-listed Imaginatik has scored two further multi-year contracts with new customers, increasing its revenue visibility. The business services provider said one of the new customers is one of the most highly rated US mutual insurance companies and the other is a major European airline.It said the contract wins bring the total number of new customers secured in the second half of the year to eight, compared to seven in the second half of the prior year. Executive Chairman Matt Cooper said it had resulted in "a strong end" to the financial year. He added: "Imaginatik has closed the year with good momentum, a sales pipeline that is significantly larger than that of the prior year and an increased level of deferred revenue to be recognised in future periods."The contract wins have meant that the company's total bookings for the year ended March 31st are expected to show a solid increase, approximately £3.4m compared to £2.8m in the previous year. Recognised revenue for the year is expected to be broadly flat compared to the prior year at approximately £2.9m, with an increased loss of approximately £1.45m (2013: £1.15m) due to the increased investment in sales and consultancy personnel. Deferred revenue is expected to have increased to approximately £2.9m (2013: £2.4m). The group also said that its strengthed sales team would have a positive impact in the current financial year and beyond.Imaginatik said that in order to fund its current working capital requirements Cooper had loaned it £0.07m, and agreed to loan up to a further £0.1m on an interest free basis with no fixed-term. "The directors are aware of the ongoing requirement for sufficient working capital and are currently in discussions with institutional and other investors regarding the future funding arrangements of the company," a statement from the company read. At the year-end its cash balance totalled £0.05m (2013: £0.136m). NR
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22 Jun 2015 15:43

Imaginatik unable to identify reason for surge in share price

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22 Jun 2015 13:38

UPDATE: Imaginatik Says Rob Terry-Led Quob Park Estates Building Stake

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22 Jun 2015 11:08

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22 Jun 2015 10:20

WINNERS & LOSERS: Savannah Resources Jumps On Deal With Rio Tinto

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22 Jun 2015 07:13

Imaginatik Says No Reason For Share Price Rise, But Quob Park Buying

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14 May 2015 08:39

Imaginatik Raises GBP504,000 In Discounted Share Placing (ALLISS)

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13 Apr 2015 08:58

Imaginatik jumps on new contracts

Shares in Imaginatik jumped almost 10% on Monday, after the technology and consultancy services provider said it has been awarded two new consultancy contracts. The London-listed group said it signed a deal with an unnamed global retail consumer products group, which will see it provide consultancy

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13 Apr 2015 06:25

Imaginatik Secures Contracts In Education And Retail Sectors

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30 Mar 2015 08:05

Imaginatik Gets Three-Year Contract Extension With US Energy Provider

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16 Feb 2015 09:05

Imaginatik Secures Contracts With US Biotech, Canadian Media Clients

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11 Feb 2015 08:43

Imaginatik Trading In Line Expectations On New Contract Wins

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19 Jan 2015 09:54

Imaginatik Secures Loan From Chairman For Short-Term Working Capital

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7 Oct 2014 16:25

DIRECTOR DEALINGS: Imaginatik Executive Chairman Buys Shares

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21 Aug 2014 13:51

DIRECTOR DEALINGS: Imaginatik Chairman Buys 50,000 Shares

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22 Jul 2014 10:33

Imaginatik Proposes One-For-80 Share Consolidation

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