Imaginatik shrinks losses

Shares of management software group Imaginatik jumped 6% after it more than halved half year pre-tax losses and said it was confident for the second half.The group, whose clients include World Bank, Pfizer and Kellogg, said loss on ordinary activities before taxation reduced to £492,000 in the six months to 30 September from a loss of £1.4m the year before. Revenues for the period rose 10% to £1.62m."We are encouraged by the progress that we have made in the first half of the year, in what remains a challenging economic climate," Imaginatik said in a company statement.Chairman Matt Cooper added, "Following the repositioning exercise carried out over the last 12 months together with further investment in our technology and a focus on expanding our consultancy expertise, Imaginatik now occupies a unique position in the innovation management market."Imaginatik said revenue visibility has increased to around £2.8m and the reduced level of overheads, combine with a growing pipeline of opportunities for the second half of the year to give us confidence in the future. --cj