18th Nov 2019 08:57
(Alliance News) - Mirada PLC on Monday expressed confidence for the reminder of the year following a swing to profit in the first half.
The company, which provides software solutions for TV operators and broadcasters, said its revenue grew to GBP5.9 million in the six months to the end of September from GBP5.6 million it delivered a year prior, helping it to swing to pretax profit of GBP98,000 from GBP2.3 million loss.
The main driver for the increase in revenue was additional professional services for izzi Telecom, Mirada said.
Elsewhere, ATNi's performance in Bermuda has been "very satisfactory" so far, with more than 90% of the customer's subscribers on the island now using Mirada's product, it said.
Meanwhile, Digital TV Cable Edmund Srl, based in Bolivia, experienced slight delays in its proposed roll-out due to issues relating to internal resourcing and agreements for the provision of certain services.
"The subscriber base of Mirada's customers is growing strongly, while the group continues to add new networks to its client base," said Chief Executive Jose Vazquez.
"We are pleased to report that we are trading in line with market expectations and we look forward to the remainder of our financial year with confidence," added Vazquez.
Mirada shares were trading 6.3% lower in London on Monday morning at 150.00 pence each.
By Evelina Grecenko; [email protected]
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