24 Nov 2016 07:00
Imaginatik plc
("Imaginatik" or "the Company")
Trading Update and Notice of Results
Imaginatik plc (AIM: IMTK.L), the innovation company, today provides an update on trading for the six months ended 30 September 2016.
The Company expects to report a significantly reduced loss after tax of £0.26m (2015: £0.41m). Approximately half of the loss is attributable to adverse foreign exchange movements arising as a result of the strong US dollar. Recognised revenues are expected to be approximately £1.84m for the period (2015: £1.96m) with overall bookings of £1.95m (2015: £2.25m)*. This bookings figure contains a number of multi-year contract renewals, which provide the Company with a good level of cash flow into the second half of the year.
Four new customers were added in the half, including a global supplier of railroad and transit system products and services, a US-based worldwide healthcare company, a global medical company specialising in eye care, and a provider of engineering, consulting and project management services for infrastructure projects. Each of these new global customers provides an opportunity for future revenue growth.
The Company has now begun the investment of the funds raised via the Institutional Placing and Open Offer completed in June 2016. Imaginatik is investing in its sales resources and technology suite to provide an ever more comprehensive platform for future growth. The strength of its consulting division continues to act as a strong differentiator in the innovation industry.
The Company has entered the second half of the year with a healthy pipeline of new business opportunities.
Matt Cooper, Non-Executive Chairman, commented: "We have enjoyed a steady first half of the year, substantially reducing trading losses while once again securing a good level of customer renewals and new customer wins. Having built a unique offering within the international innovation marketplace we are confident we have the foundations in place for future success."
The Company expects to report interim results for the six month period to 30 September 2016 on 6 December 2016.
* At constant currency, US$ to £ exchange rate of 1.325
For further information, please contact:
Imaginatik plc | Tel: 01329 243 243 |
Matt Cooper, Non-Executive Chairman | |
Ralph Welborn, CEO | |
Shawn Taylor, CFO | |
finnCap Ltd | Tel: 020 7220 0500 |
Jonny Franklin-Adams/Giles Rolls, corporate finance | |
Camille Gochez, corporate broking | |
Alma PR | Tel: 020 8004 4218 |
Hilary Buchanan | |
Caroline Forde | |
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 PwC, Novartis, The Chubb Group of Insurance Companies, Exxon Mobil, Altria, Shell, Mayo Clinic, Goodyear, the Yorkshire Building Society, Caterpillar 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.
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.
The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.