1 May 2018 07:00
1 May 2018
Imaginatik plc
("Imaginatik" or "the Company")
Trading Update
Imaginatik plc (AIM: IMTK.L), the innovation company, today provides an update on trading for the year ended 31 March 2018.
Recognised revenues for the year are expected to be £3.7m (2017: £3.9m), with overall bookings amounting to £3.6m* (2017: £3.2m*). The renewal rate in the year increased, with approximately 88% of the renewals by value being converted over the period (2017: 76%).
A total number of 13 new customers were signed during the year (2017: 15), seven of which are on annual or multi-year contracts consisting of both technology and consulting, two short term pilot projects and three consulting engagements. New customers include a major US airline and several large financial institutions including a large financial services group in Asia, a large US based investment advisor and a global investment bank headquartered in Australia.
The directors continue to carefully monitor the Company's cash position and it may become necessary to seek additional funding in order to successfully progress the ongoing formal sale process.
*At constant currency - US$ 1.4223
The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
For further information please contact:
Imaginatik plc | Tel: 01329 243 243 |
Matt Cooper Non-Executive Chairman Ralph Welborn, CEO Shawn Taylor, CFO |
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finnCap Ltd | Tel: 020 7220 0500 |
Jonny Franklin-Adams/Giles Rolls, corporate finance Camille Gochez, corporate broking |
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Alma PR | Tel: 020 8004 4218 |
Caroline Forde |
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Robyn Fisher |
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About Imaginatik
Imaginatik provides a range of Innovation solutions comprised of consultancy, enterprise software and program management to deliver innovation results to companies such as Exxon Mobil, Altria, Shell, Goodyear, Caterpillar, AECOM, Novartis and Cargill. Few companies possess the internal capability to consistently generate fresh ideas, identify those worth pursuing and reliably transform them into real, value-enhancing assets. Imaginatik's mission is to help these companies build sustainable innovation competencies. In 2016 Forrester Research found that "Imaginatik has the most comprehensive innovation management solution," providing excellent industry recognition of Imaginatik's full-service innovation offering, combining both technology and consultancy services.
Imaginatik is a public company whose shares are traded on the AIM market of the London Stock Exchange (LSE: IMTK.L) with offices in Boston, MA, and Fareham, UK. For more information visit www.imaginatik.com.