Trading Update

RNS Number : 4487B

Imaginatik PLC

17 April 2012

 

17 April 2012

Imaginatik Plc

("Imaginatik" or the "Company")

Trading Update

Imaginatik plc (AIM: IMTK.L), a leading provider of enterprise innovation solutions including a range of technology products and consultancy, today provides an update on trading for the year ended 31 March 2012.

In the last 12 months the management team has put in place all the components it has identified as the elements required for future success. These include key management hires, the expansion of the sales team including re-entry into the UK market, the addition of further consultancy capability, the enhancement of the technology suite and a clear marketing strategy. Imaginatik now occupies a unique position in the innovation market, as a full service innovation partner. Its proven consultancy coupled with award winning software clearly differentiates Imaginatik from its competitors.  

As a result of these actions, revenues for the year to 31 March 2012 are expected to show an increase of approximately 20% on the prior year (2011: £2.85m), with the second half being approximately 30% ahead of the same period in the prior year. The operating loss, before share option costs, for the year is expected to be substantially reduced to approximately £0.975m (2011: loss of £2.28m). Cash balances as at 31 March 2012 were £0.54m (31 March 2011: £0.47m).

Matt Cooper, Executive Chairman of Imaginatik, commented: "We have made good progress during the year, executing against our plan, and the number of customers now signing multi-year contracts bears testament to that success. While we will record a loss for the year, it will be substantially reduced compared to 2011."

For further information please contact:  

Imaginatik plc	Tel: [phone]
Matt Cooper, Chairman / Shawn Taylor, CFO
Northland Capital Partners Limited	Tel: [phone]
Gavin Burnell / Edward Hutton
Newgate Threadneedle	Tel: [phone]
Caroline Evans-Jones / Hilary Millar

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 The World Bank, NYSE, The Chubb Group of Insurance Companies, Boeing, Pfizer, Goodyear, Paccar, Kellogg 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) and is a World Economic Forum Technology Pioneer with offices in Boston, MA, and Winchester, UK. For more information visit www.imaginatik.com.

 

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