Share Search
Visit the Share Search
Mirada swings to profit after disposal of Connect business
18th Nov 2019 10:20
(Sharecast News) - Mirada on Monday swung to an interim profit following the $2.7m sale of one of its businesses and a slight increase in revenue.
The digital TV software provider recorded a profit before tax of $98,000 for the six months ended 30 September, compared with a $2.3m loss a year earlier, thanks to a $1.7m gain on the sale of Mirada Connect
The AIM traded company achieved a revenue increase of 6.0% to $5.9m, as the company's underlying turnover rose by 11% to $5.8m following new customer wins and additional professional services for izzi Telecom.
As of the end of the period, the Mexican telecommunications provider had deployed 2.5m set-top boxes, bringing Mirada's technology into more than 1.3m households.
Mirada said its sales pipeline remained healthy, while the company was currently involved in several deal negotiations and was still confident it could win new contracts in the short-term.
Chief executive José Luis Vázquez said: "Together, these positive developments provide considerable confidence going forward. 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."
Mirada shares were down 14.69% at 136.50p at 0958 GMT.
The digital TV software provider recorded a profit before tax of $98,000 for the six months ended 30 September, compared with a $2.3m loss a year earlier, thanks to a $1.7m gain on the sale of Mirada Connect
The AIM traded company achieved a revenue increase of 6.0% to $5.9m, as the company's underlying turnover rose by 11% to $5.8m following new customer wins and additional professional services for izzi Telecom.
As of the end of the period, the Mexican telecommunications provider had deployed 2.5m set-top boxes, bringing Mirada's technology into more than 1.3m households.
Mirada said its sales pipeline remained healthy, while the company was currently involved in several deal negotiations and was still confident it could win new contracts in the short-term.
Chief executive José Luis Vázquez said: "Together, these positive developments provide considerable confidence going forward. 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."
Mirada shares were down 14.69% at 136.50p at 0958 GMT.