AGM Statement

RNS Number : 2322M

Imaginatik PLC

14 September 2012

 



14 September 2012

Imaginatik Plc

("Imaginatik" or the "Company")

AGM Statement

At the Company's Annual General Meeting to be held later today, Matthew Cooper, Executive Chairman of Imaginatik plc (AIM: IMTK.L), the world's first full service innovation provider offering a range of technology products and consultancy, will make the following statement:

"We have continued to make good progress in the first half of the financial year. So far in this financial year we have contracted with 12 new customers across Europe and the US which is double that achieved in the same period of last year. We also expect to finalise a number of additional annual contracts in the short term.

"Importantly, we are experiencing growth in the number of contracts for strategic consultancy, including contracts with Mead Johnson, Proctor & Gamble and The Society of Petroleum Engineers. Most new annual contracts being signed now include some element of operational consulting, endorsing our strategy to offer 'full service' innovation capabilities to clients, rather than standalone software.

"We have been encouraged by progress in the European market, where we have recently increased our sales capacity, securing two small annual deals in the UK and Spain and a pilot with a UK headquartered global betting and gaming company. While relatively modest in size initially, each has the potential for significant expansion and we believe we are well placed to benefit further from the growing European innovation market.

"We have continued to invest in the development of our technology platform and have begun incorporating multi-lingual capabilities and connectors into some of the fastest growing corporate platforms, such as SharePoint, Jive and Yammer. We believe both of these initiatives will significantly increase our addressable market.

"The general economy stills poses a challenge, evidenced by the loss of three customers in the period due to budgetary constraints. However, each of these contracts was based on our 'old model' with no consultancy support and we are confident that as an increasing number of our customers rely on Imaginatik to provide them with full innovation capabilities, we will increase the stickiness of our customer base.

"Given that we have a number of new contracts pending we look forward to providing an update on our financial performance to the market following the period end."

For further information please contact:  

Imaginatik plc	Tel: [phone]
Matt Cooper, Executive 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,  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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