Mirada stops pressing the red button

AIM-listed tiddler Mirada, one of many companies offering 'TV anywhere' media interaction software, has moved into the black for the first time in its history.

AIM-listed tiddler Mirada, one of many companies offering 'TV anywhere' media interaction software, has moved into the black for the first time in its history.

Profit before tax in the six months to the end of September may only have been £25,000 but the move into profit represents a milestone for a company which posted a loss of £0.93m at the interim stage last year.

Revenues rose to £2.46m from £2.28m at the half-year stage last year. The bulk of these came from digital television, where revenues rose 32% to £2.12m from £1.61m a year earlier. Of these revenues, 90% were generated overseas (outside of UK and Spain), growing to £1.91m from £1.31m in the same period last year. The Digital TV earnings before interest, taxation, depreciation and amortisation improved to £0.96m from £0.46m.

Revenues earned by the Broadcast division were £0.12m for the period compared to £0.43m for the six months ended September 30th 2011, largely reflecting Mirada's withdrawal from "red button" TV services at the end of June 2011.

Chief Executive Officer Jose Luis Vazquez said the investment made in its flagship products, iris and navi, is beginning to pay off with customers signing up and generating recurring licence fee revenue for the company.

Navi is described as a content navigation tool for digital television viewers. Iris is the group's "TV everywhere" multi-screen product, mainly targeted at the cable television market.

"We expect to continue to improve our performance and we look forward to providing the market with continued news flow of our achievements during the following months," Vasquez said.

The shares rose to a 52-week high on the trading update.

Recommended

The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves takes a look at the companies with the highest dividend yields in the UK’s blue-chip index
6 Feb 2023
The outlook for Shell shares is mixed, despite bumper profits
Energy stocks

The outlook for Shell shares is mixed, despite bumper profits

With profits surging, it looks as if Shell is on a roll, but the company’s growth from here is hard to see as Rupert Hargreaves explains.
6 Feb 2023
The top funds to invest in
Funds

The top funds to invest in

As market volatility and recessionary fears continue, here are the most popular funds, stocks and trusts investors are putting their money into accord…
2 Feb 2023
The top ten dividend stocks in the FTSE 250
Share tips

The top ten dividend stocks in the FTSE 250

The average FTSE 250 dividend yield is around 4%, but many stocks yield much more. Rupert Hargreaves picks the best FTSE 250 stocks for income investo…
17 Jan 2023

Most Popular

NS&I brings back one-year fixed bonds with highest rates since 2010
Personal finance

NS&I brings back one-year fixed bonds with highest rates since 2010

NS&I’s one-year fixed bonds are back on sale after being pulled off the market in 2019 - but is the rate any good?
1 Feb 2023
How to invest like an ISA millionaire
Investments

How to invest like an ISA millionaire

We reveal the top funds and trusts ISA millionaires pumped their money into
6 Feb 2023
The best one-year fixed savings accounts - February 2023
Savings

The best one-year fixed savings accounts - February 2023

Earn almost 5% on one-year fixed savings accounts.
6 Feb 2023