Trading Update

RNS Number : 0518I

Imaginatik PLC

04 March 2010

 



4 March 2010

Imaginatik plc

("Imaginatik" or the "Company")

Trading Update

Imaginatik plc (AIM:IMTK), a provider of collaborative innovation software and processes, announces today that largely as a result of contract slippage, it expects turnover for the year ending 31 March 2010 to be significantly lower than market expectations, but marginally ahead of the £4.58m achieved in the previous financial year.

There remains some uncertainty over the timing of the closure of various ongoing contract discussions, therefore the full impact on the loss for the year to 31 March 2010 is not yet certain.

Mark Turrell, CEO of Imaginatik, commented, "We have secured several significant contracts during the course of the year, with some of the world's leading organizations. However, the challenging economic environment continues to have an impact on the business. Whilst it is disappointing not to achieve the revenue forecast for the Company in this financial year, our cash position remains comfortable, and we remain confident in the future prospects for Imaginatik and for the market place in which we operate."

For further information please contact:  

Imaginatik plc	Tel: [phone]
Mark Turrell, CEO / Shawn Taylor, CFO
Arbuthnot Securities Limited	Tel: [phone]
Tom Griffiths
ICIS	Tel: [phone]
Caroline Evans-Jones / Hilary Millar

About Imaginatik

Imaginatik is a leading provider of Collective Intelligence solutions, including Collaborative Innovation, Open Innovation and Idea Management technology and services. Some of the world's leading companies use Imaginatik's Idea Central software platform to identify and develop the important ideas and strategies that will drive the future of their business.  For more than 10 years, Imaginatik has helped customers including CSC, Pfizer, Boeing, Chubb and Cargill achieve outstanding results with the experience of its consulting team and highly configurable web-based software.

Imaginatik is a public company whose shares are traded on the AIM market of the London Stock Exchange (LSE:IMTK.L) and a World Economic Forum Technology Pioneer with offices in Boston, MA, and London, UK. In 2009, Imaginatik was named as one of the 500 fastest growing technology companies in the EMEA region by Deloitte. Imaginatik is committed to ongoing research into the nature of human networks, innovation and collective intelligence. The Company collaborates with several academic institutions including the IXL Center at Hult International Business School.

For further information please visit http://www.imaginatik.com

 

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