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Financial Times: Pfizer Contract Buoys Imaginatik

June 12, 2008—By Philip Stafford

Imaginatik, the collaborative software group, expects to close another four major contracts in the coming financial year as full-year results showed it moved closer to profitability.

Turnover for the year to March 31 rose 27 per cent to £3.16m while pre-tax losses narrowed from £1.3m to £139,000. The figures were boosted by a major deal with Pfizer, the US drugs group, which took 10,000 extra licences of Imaginatik's software. The software allows ideas and insights from employees in large organisations to be shared.

The technology has garnered widespread praise and was selected as one of 39 Technology Pioneers 2008 at the World Economic Forum in Davos in January.

However WH Ireland, the group's broker, cut 2009 revenue forecasts from £5m to £4.4m and pre-tax profit from £500,000 to £300,000 on concerns over possible lengthening sales cycles.