ABAL.L Regulatory News (ABAL)

13 Feb 2008 09:40

Imaginatik PLC13 February 2008 13 February 2008 Imaginatik plc ("Imaginatik" or the "Company") Trading Update Imaginatik plc (AIM: IMTK), a leading provider of collaborative innovation andproblem-solving software and processes announces today that an improved tradingperformance in the second half of the year should result in a profit for thisperiod. This outcome is expected to strengthen the balance sheet and provide apositive operating cash flow for the second half year. The Company's recurringrevenue base continues to build well and will help underpin our operations intothe next financial year. In view of the weak trading experienced in the first half of the financial yearand not withstanding the much improved performance in the second half year, theCompany is unlikely to reach the market forecast of £4.4m of revenue for theyear to 31 March 2008. Overheads continue to be tightly contained. As a resultthe level of business required to reach break-even for the full year has beensignificantly reduced. Imaginatik also announces today that it is in final negotiations with a majorcustomer which may or may not lead to it becoming a strategic investor in theCompany. The Board will provide additional information to the market as soon asthe agreement is concluded. Mark Turrell, CEO of Imaginatik plc, commented, "I am pleased to see theCompany's performance improving after a difficult first nine months as a publiccompany. We now have a great deal of momentum within the business, our pipelineis strong and our recent presence at the World Economic Forum in Davos will helpaccelerate the current level of activity. We believe having a significantstrategic investor on board would be extremely positive for Imaginatik and itsshareholders and we will provide further information in due course." For further information please contact: Imaginatik plc Tel: +44 (0)20 7917 2975Mark Turrell, CEO / Shawn Taylor, CFO WH Ireland Tel: +44 (0)121 265 6330Tim Cofman/Katy Birkin Investor relations and UK mediaICIS Tel: +44 (0)20 7651 8688Tom Moriarty / Caroline Evans Jones About Imaginatik Imaginatik is the leading provider of Collaborative Innovation and ProblemSolving software and process to the world's leading companies. More than 100clients, including Hewlett-Packard, IBM and Pfizer, rely on Imaginatik'ssoftware, consulting and research to enable their best-of-breed innovationactivities. Imaginatik's software and consulting services have helped clients discoversignificant sources of additional revenue, as well as tangible cost savings,process improvements and increased product pipeline. Imaginatik is alsocommitted to developing strategic solutions in the field of innovation, workingwith academic institutions such as the London Business School and the CassSchool of Business, London, as well as leading practitioners of corporateinnovation. For further information please visit www.imaginatik.com. This information is provided by RNS The company news service from the London Stock Exchange