Imaginatik PLC Trading Update (4783P)

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RNS Number : 4783P

Imaginatik PLC

25 October 2012

25 October 2012

Imaginatik Plc

("Imaginatik" or the "Company")

Trading Update

Imaginatik plc (AIM: IMTK.L), the world's first full service innovation provider offering a range of technology products and consultancy, is pleased to provide a trading update for the six months ended 30 September 2012.

As announced at the time of the AGM on 14 September, Imaginatik made good progress in the first half of the financial year. As anticipated at the AGM, the Company successfully contracted a further five additional customers in the last few weeks of the period, bringing the total number of new customers in the first half to 17 (H1 2011: 6). Of these, nine were annual contracts (including Air Products and Chemicals Inc. and Chartis Global Services, Inc.), five were pilot projects (including MillerCoors and Merck & Co. Inc.) with the balance being consultancy-led engagements.

Revenue for the first half is expected to be approximately GBP1.75m, (H1 2011: GBP1.62m) with operating losses, before share-based payments, expected to be approximately GBP0.36m (H1 2011: GBP0.43m). During the period the Company has capitalised development costs amounting to GBP0.12m, (H1 2011: GBPnil).

One of the annual contracts referred to above was the conversion of a consultancy-led engagement with a major international US based mining company. The company had been a consultancy customer of Imaginatik's since January 2012. This conversion further reinforces Imaginatik's strategy to offer a 'full service' innovation platform combining software with a mixture of strategic and operational consultancy.

The Company expects to announce its interim results for the six months ended 30 September 2012 towards the end of November.

Matt Cooper, Executive Chairman of Imaginatik, commented: "We are pleased to see further evidence that our transition to a full service innovation provider is starting to bear fruit, in particular our consulting capabilities continue to differentiate us from our competitors. Trading in the second half has begun well and, with a strong pipeline of opportunities and renewals for the second half, we remain confident of a successful outcome for the year as a whole."

For further information please contact:

 
 Imaginatik plc                            Tel: [phone] 
                                            2975 
 Matt Cooper, Executive Chairman / Shawn 
  Taylor, CFO 
 
 Northland Capital Partners Limited        Tel: [phone] 
                                            8800 
 Gavin Burnell / Edward Hutton 
 
 Newgate Threadneedle                      Tel: [phone] 
                                            9850 
 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, 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.

This information is provided by RNS

The company news service from the London Stock Exchange

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