Imaginatik Soars On Bright Outlook

By Rory Gallivan

LONDON--Shares in Imaginatik PLC (IMTK.LN) soared Monday after it the business consultancy and software group said it expects to report a reduced loss for the six months ended Sept. 30, helped by contract renewals and new customer wins.

The company predicts a 33% increase in revenue to 1.96 million pounds ($3 million), which will reduce the half year losses to around GBP0.41 million from GBP0.7 million the previous year, it said.

Imaginatik, which provides software to help staff share ideas and analytics tools, said it renewed 14 out of 17 contracts available for renewal during the period, and won new clients including drug group Eli Lilly & Co. (LLY) and airline Alaska Air Group Inc. (ALK).

"The board is pleased with the progress Imaginatik is making," chairman Matt Cooper. "The quality of the client base is outstanding for a company of our size and we are seeing pleasing growth in new innovation consulting opportunities," he added.

Shares at 1611 GMT, up a penny, or 26.2%, at 7 pence valuing the company at GBP5.6 million.

-Write to Rory Gallivan at [e-mail]; Twitter: @RoryGallivan

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(END) Dow Jones Newswires

November 09, 2015 11:36 ET (16:36 GMT)

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