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Mirada PLC on Wednesday reported a narrowed half-year loss as it benefited from currency movements and lower expenses.
The Surrey, England-based provider of software for digital television said pretax loss narrowed to $1.0 million in the six months that ended September 30 from $1.2 million a year prior.
Revenue fell to $5.2 million to $6.0 million, but administrative expenses were reduced to $6.2 million from $6.7 million. Further, cost of sales decreased by 61% to $145,000 from $369,000. Meanwhile, the company booked a gain on foreign currency translation of $284,000, compared to a loss of $11,000.
Looking ahead, Chief Executive Officer Jose Luis Vazquez said Mirada has continued to build on the momentum established in financial year 2022 and is confident that it is in a strong position. He pointed to advanced negotiations with key strategic customers in Latin America and in Europe, Middle East & Africa.
Mirada shares were flat at 32.00 pence each in London on Wednesday morning.
By Tom Budszus, Alliance News reporter
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