28th Dec 2022 08:30
(Alliance News) - Mirada PLC on Wednesday reported a narrowed half-year loss as it benefited from currency movements and lower expenses.
The Surrey, England-based provider of software for digital television said pretax loss narrowed to USD1.0 million in the six months that ended September 30 from USD1.2 million a year prior.
Revenue fell to USD5.2 million to USD6.0 million, but administrative expenses were reduced to USD6.2 million from USD6.7 million. Further, cost of sales decreased by 61% to USD145,000 from USD369,000. Meanwhile, the company booked a gain on foreign currency translation of USD284,000, compared to a loss of USD11,000.
Looking ahead, Chief Executive Officer Jose Luis Vazquez said Mirada has continued to build on the momentum established in financial year 2022 and is confident that it is in a strong position. He pointed to advanced negotiations with key strategic customers in Latin America and in Europe, Middle East & Africa.
Mirada shares were flat at 32.00 pence each in London on Wednesday morning.
By Tom Budszus, Alliance News reporter
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