LONDON (ShareCast) - Software (Frankfurt: A0XFVC - news) firm Imaginatik (LSE: IMTK.L
- news) said it narrowed full year pre-tax losses, increased sales and is confident of a strong performance in the current fiscal year.
The group posted a pre-tax loss of £102,000 for the year ended 31 March 2009 from a loss of £139,674 the year earlier. Revenue increased to £4.6m from £3.2m before as it signed up more clients and its average contract value rose.
Imaginatik also posted a maiden operating profit, excluding share option charges, of £130,000 from a loss of £70,000 the previous year.
Commenting on trading chairman Howard Marshall said, "Imaginatik has not been immune to the broader economic downturn, but as a relatively small software company, it has the agility to adjust rapidly to the changing currents of a shifting global economy. This has stood us in good stead during the year."
The group also said it is confident of a strong performance in 2010 as its recurring revenue stream grows and amid a healthy cash position.
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