Mirada PLC Trading Statement (2658M)

TIDMMIRA

RNS Number : 2658M

Mirada PLC

12 October 2016

12 October 2016

Mirada plc

("Mirada" or the "Company")

Trading Update

Mirada plc (AIM: MIRA), a leading audio-visual content interaction specialist, is pleased to announce a trading update for the period ended 30 September 2016.

The rollout of the Iris product across the Televisa network is progressing well, with the commercial delivery in line with Mirada's expectations. As such, trading in the first six months of the current financial year, to 30 September 2016, has been strong and the directors of the Company are confident in meeting market expectations for the full year to 31 March 2017.

In addition, the Company has improved cash collection during recent months such that receivables stood at GBP0.6m at 30 September 2016. This has also resulted in an improvement to Mirada's cash position to GBP1.1m at 30 September 2016 (GBP0.7m as at 31 March 2016), with additional available short-term facilities at GBP1.3m at 30 September 2016.

Mirada expects to announce its half year results in the third week of November 2016.

Jose Luis Vazquez, Chief Executive Officer, commented: "We are delighted to report that, despite the extensive scope of the project, the Televisa roll-out of our Iris product across Mexico progresses to plan. Trading for the first six months of the year has been healthy and we have strengthened our balance sheet during this time. We therefore look forward to the remainder of the year with confidence and to providing further updates in due course."

Enquiries:

 
  Mirada plc                        [phone] 
   José Luis Vázquez,      [e-mail] 
   Chief Executive Officer 
  Newgate Communications            [phone] 
   Bob Huxford                       [e-mail] 
   Helena Bogle 
   Ed Treadwell 
 Allenby Capital Limited 
  (Nominated Adviser and 
  Broker) 
  Jeremy Porter / Alex Brearley 
  / Liz Kirchner (Corporate 
  Finance) 
  Graham Bell (Equity Sales)       [phone] 
 

About Mirada

Mirada is a leading provider of products and services for Digital TV Operators and Broadcasters. Founded in 2000 and led by Executive Chairman Javier Casanueva and Group CEO José Luis Vázquez, the Company prides itself on having spent over 15 years as a pioneer in the Digital TV market. Mirada's core focus is on the ever-growing demand for 'TV Everywhere', for which it offers a complete suite of end-to-end modular products across multiple devices (STBs, PCs, smartphones and tablets), all with innovative state-of-the-art UI designs.

Mirada's products and solutions, acclaimed for unparalleled flexibility and optimal time to market, have been deployed by some of the biggest names in broadcasting including Telefonica, Sky, Virgin Media, BBC, ITV and most recently Televisa Group, the largest media company in the Spanish-speaking world. Headquartered in London, Mirada has commercial offices located across Europe, Latin America and Asia. For more information, visit www.mirada.tv.

This information is provided by RNS

The company news service from the London Stock Exchange

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October 12, 2016 02:00 ET (06:00 GMT)