Imaginatik PLC Trading Update (1875D)
April 25 2017 - 2:00AM
UK Regulatory
TIDMIMTK
RNS Number : 1875D
Imaginatik PLC
25 April 2017
25 April 2017
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 2017.
The Company expects to report an adjusted loss after tax of
GBP0.55m, broadly in line with market expectations. The result is
stated net of an exceptional foreign exchange loss of GBP0.23m
arising as a result of the strong US dollar over the period (2016:
adjusted net loss of GBP0.8m). Recognised revenues for the year are
expected to be flat at approximately GBP3.9m (2016: GBP3.9m), with
overall bookings amounting to GBP3.6m* (2016: GBP4.7m*). Renewals
in the period remained steady, with approximately 76% of the
renewals by value being converted over the period.
A total number of 15 new customers were signed during the year
(2016: 9), 9 of which are on annual or multi-year contracts
consisting of both technology and consulting, and 6 are on
consulting engagements. Out of these new customer wins, 11 were
added in the second half of the year as sales momentum started to
build. New customers include an international financial services
provider, a US based multi-national engineering business, a
multi-national pharmaceutical company and a global human resources
consulting firm.
The Company is also pleased to report that is has entered into
several partnership agreements during the second half of the year.
The most significant of which is for an initial two year period
with a leading provider of end-to-end IT services and solutions for
Global 1000 companies ("the Partner"). Imaginatik will provide its
technology platform and consultancy services to the Partner
directly and to the Partner's customer base as part of a jointly
developed innovation offering. As well as receiving subscription
revenues and consulting fees for the provision of its technology
and consulting services, Imaginatik will also be entitled to
receive success-based fees based on the total contract value of the
joint offering.
The directors continue to carefully monitor the Company's cash
position and to consider the options available.
*At constant currency
Matt Cooper, Non-Executive Chairman of Imaginatik,
commented:
"This has been of year of good underlying progress for the
Group. During the period we have added a further range of new blue
chip organisations to our outstanding reference customer base,
improved the financial strength of the business by reducing trading
losses, and maintained the critical investment in the business to
enhance the Company's consultancy and technology offerings.
"We are also delighted to announce the significant partnership
agreement with a multi-national IT services and solutions provider
which leverages both businesses' expertise and skillsets to bring
comprehensive innovation technology and services to a broader
market. As we previously stated, a focus for the business has been
on developing and building relationships with strategic partners to
expand the Group's market reach and align with other thought
leaders in the space. This partnership agreement is a milestone
achievement in line with this strategy and opens up a substantial
new potential customer base.
"As we enter the new financial year the pipeline of new business
opportunities is strong and we look forward to providing a further
update at the time of full year results."
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
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
Robyn Fisher
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, the Yorkshire Building Society, 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTPGUGGCUPMPUC
(END) Dow Jones Newswires
April 25, 2017 02:00 ET (06:00 GMT)
Abal (LSE:ABAL)
Historical Stock Chart
From Apr 2024 to May 2024
Abal (LSE:ABAL)
Historical Stock Chart
From May 2023 to May 2024