Mirada falls as it posts first-half results

AIM-listed digital TV software firm Mirada (LON:MIRA) has seen its share price drop by 14.69% to 136.50p (as of 09:45 GMT) despite underlying revenues for the six months ended 30th September increasing by 11%. The company did register a profit but this was largely due to the one off proceeds from the disposal of Mirada Connect during the period.

CEO José Luis Vázquez commented: “Our successful engagement with Android TV technology reflects how flexible our business is, being able to quickly implement new paradigm changes and provide the latest innovations to our growing customer base. This, along with other technological developments, is leading to increased market recognition of the quality of our product and increased adoption of our technology, which is being positively reflected in our financial performance.

“The subscriber base of Mirada’s customers is growing strongly, while the Group continues to add new networks to its client base. We are currently participating in pitching processes for several prospects and are increasing our pipeline of opportunities with the aim of further growing our list of satisfied business partners and customers. 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“.