10th Dec 2015 09:16
LONDON (Alliance News) - Imaginatik PLC Thursday reported a narrowed pretax loss for its first half, as it secured new contracts and contract renewals.
The software and consultancy company reported a pretax loss of GBP572,000 for the half year to end-September, narrowed from a pretax loss of GBP818,000 a year before, on revenue of GBP2.0 million, up from GBP1.5 million.
During the half year the company won contracts with new customers including a pharmaceutical company, a US aviation company, a radiation safety company and an athletic footwear firm. It also secured "high levels" of renewals with existing customers, renewing 14 out of the 17 contracts available for renewal.
This led the company's deferred revenue to GBP2.9 million as at the end of the half year, up from GBP2.6 million a year before.
Following the period end the company has secured a further two "significant" contract renewals.
"We are pleased with the progress Imaginatik is making. Our increasing level of revenue and enviable customer base are evidence that our unique ability to deliver innovation programmes through a combination of our technology and consulting expertise is a powerful differentiator for us," said Non-Executive Chairman Matt Cooper in a statement
"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. We have closed two large renewals post period end and we have a rich pipeline of additional opportunities," said Cooper.
Shares in Imaginatik were up 3.1% at 5.80 pence Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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