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Mirriad Advertising PLC - London-based in-content advertising technology - Posts largened loss in 2021. Pretax loss widens to £12.0 million from £9.1 million in 2020. Revenue falls to £2.0 million from £2.2 million. Administrative expenses widen to £13.9 million from £11.2 million, partly because the firm hired more people in 2021. Its US team grows to 12 staff from 7 and its technology team to 47 from 42 people.
Firm says 2022 trading is in line with market expectations and sees good momentum particularly in the US. ‘Looking at 2022, Mirriad expects to capitalise on the significant opportunities in the North American market and our launch into the programmatic realm,’ adds Chief Executive Officer Stephan Beringer. Company wants to move away from a minimum revenue guarantee model with Tencent Holdings Ltd in China and ‘continue to nurture strong existing relationships in Europe,’ it explains.
Current stock price: 21.90 pence, down 11% on Wednesday
12-month change: down 62%
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