28th Sep 2018 13:10
LONDON (Alliance News) - Mirada PLC on Friday reported a rise in annual revenue, a narrowed loss, and said that it has a "strong" pipeline of potential business going forward.
The audio-visual content firm posted revenue of USD8.8 million for the 12 months to March 31, up from USD8.49 million a year ago. Pretax loss shrunk to USD5.2 million from USD7.0 million, mainly due to the non-repeat of a goodwill impairment.
Mirada said the two highlights for the year were contract wins with ATNi and Digital TV Cable.
Chief Executive Jose Luis Vazquez commented: "Mirada participated in a significant number of advanced stage tenders during the year and is seen as an increasingly relevant supplier as new bids appear in the market.
"I am glad to say that we currently have a strong pipeline in terms of the number of opportunities we are participating in. This pipeline and an increasing number of successful references is helping us secure new opportunities and we are confident of announcing new relevant contract wins in the near future."
Mirada shares were trading at 0.72 pence each Friday, down 7.1%.
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MIRA.L