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Innovation software and services vendor Imaginatik ended the half year to September 30 2013, with revenue up 8% yoy to £1.75m and a reassuring clutch of new customers wins – 17 new customers on annual or pilot contracts vs 6 this time last year. Of the 17, 9 are on annual contracts so there is still further opportunity here. It made a loss on ordinary activities of £282K and benefitted from a tax credit. The results of a share placing in June raised £1.0m before expenses and will be being used to expand the US sales team, add further consultancy capacity in the US and Europe, support technology, branding and marketing efforts. The US continues to be its core market (93% of revenue, vs 98% this time last year) but the company is looking at Europe for new opportunities and had increased its presence in the region – revenue from Europe now represents 7% of overall revenue (vs 2% in H1 2011). Looking in your own back yard clearly has merit.
Company performance has yo-yo’d somewhat over the last couple of years (see here) but these interim results follow a full year in which it made progress so hopefully the upswing will continue.
