Shares of management software group Imaginatik jumped 6% after it more than halved half year pre-tax losses and said it was confident for the second half.
The group, whose clients include World Bank, Pfizer and Kellogg, said loss on ordinary activities before taxation reduced to £492,000 in the six months to 30 September from a loss of £1.4m the year before. Revenues for the period rose 10% to £1.62m.
"We are encouraged by the progress that we have made in the first half of the year, in what remains a challenging economic climate," Imaginatik said in a company statement.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Chairman Matt Cooper added, "Following the repositioning exercise carried out over the last 12 months together with further investment in our technology and a focus on expanding our consultancy expertise, Imaginatik now occupies a unique position in the innovation management market."
Imaginatik said revenue visibility has increased to around £2.8m and the reduced level of overheads, combine with a growing pipeline of opportunities for the second half of the year to give us confidence in the future.
--
cj
-
8 of the best houses for sale with annexesThe best houses with annexes – from a period property in the Lake District to a 13th-century house with a two-bedroom annexe in Saltwood, Kent
-
Zelenskyy moves to appease Donald Trump – what happens now?Ukraine’s president Volodymyr Zelenskyy is conceding ground to secure the least-worst deal possible, says Emily Hohler
