Imaginatik PLC Trading Update and Notice of Results (9829P)
November 24 2016 - 2:00AM
UK Regulatory
TIDMIMTK
RNS Number : 9829P
Imaginatik PLC
24 November 2016
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 GBP0.26m (2015: GBP0.41m). 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 GBP1.84m for the period (2015: GBP1.96m) with
overall bookings of GBP1.95m (2015: GBP2.25m)*. 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 GBP 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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