News blog
Imaginatik
- BY: Andrew Hore |
- POSTED: 21/06/2009 |
Software company Imaginatik continues to increase its customer base.
Imaginatik made an underlying annual profit for the first time in the year to March 2009. Excluding share option charges, Imaginatik moved from a loss £66,000 to a profit of £131,000.
The refocusing of marketing on the cost reduction aspects of the company’s software rather than its use for collaboration of ideas helped the company continue to grow. Revenues were £4.58m last year and annualised recurring revenues are already running at £3.3m – helped by the weak pound.
The US dominates revenues but Europe is also growing now that more emphasis has been placed on the market.
Additional sales personnel have been employed which will increase costs but the company should remain modestly profitable.
Net cash is £1.1m and this should increase in the current year. More money will be spent on developing software. Some outsourced development is capitalised but all internal development is written off when it is incurred. Management wants to add to the range of software that it can offer customers.
At 6.25p a share, Imaginatik is valued at £8.29m.
Imaginatik recently appointed Arbuthnot as its nominated adviser and broker.
© 2024 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
- Browse by issue
- All issues
- Popular tags
- All tags
- AIM Micro feeds
Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds
|