LONDON (Alliance News) - Shares in Imaginatik PLC dropped 7.4% Wednesday after it saw flat revenues and widened its pretax loss due to increased investment in the half year ended September 30.
The software and services company posted a pretax loss of GBP787,000, widened from a restated pretax loss of GBP667,000 in the previous year. The widened loss was due to an increase in administrative expenses to GBP2.17 million from GBP2.0 million as the company increased investment in its consultancy personnel and marketing activities.
Revenue was GBP1.5 million, roughly flat from the previous year.
Despite flat revenues, Imaginatik remained confident about its future success, and said it would focus on building sales momentum and taking three new consultancy products to market in the second half of the year.
The company said it had seen a strong start to its third quarter, with new contracts signed and a steadily growing pipeline in the US and Europe. During the half year Imaginatik secured customer wins with SPX Corp., Ingredion Inc. and Flextronics Ltd. in the US, and with Royal Dutch Shell PLC, Digital Life Sciences and NATS Holdings Ltd. in the UK.
Shares in Imaginatik were trading down 0.007 pence at 0.0880p Wednesday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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