Mirriad Advertising PLC - London-based in-content advertising technology - Says its revenue in its first half ended June 30 up slightly at GBP592,000 from GBP577,000 following its final exit from China, says revenue derived from continuing operations up 26% from the previous year at GBP576,000 from GBP458,000. Mirriad expects revenue in the second half of the year to be around twice of that of the first half. The company completed its restructuring plan to reduce monthly cash burn at end of May, with a one-off cost of GBP311,000.
Chief Executive Officer Stephan Beringer said "We are in line with our internal revenue expectations despite an adverse macro environment, the fact that 2023 is our first year without any meaningful revenue from China, and our focus on programmatic as we move from the market building phase.
Current stock price: 1.19 pence, down 12%
12-month change: down 92%
By Will Neill, Alliance News reporter
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Mirriad Advertising (MIRI)