Mirriad flags 'modest' full-year revenue

(Sharecast News) - Mirriad Advertising shares were sliding on Friday after it said it expected full-year revenue to remain modest in 2025, as the virtual product placement group continued to operate with a significantly reduced cost base. The AIM-traded company said revenue for the second half was expected to be around £0.2m, with some additional revenue still to be recognised before the end of December.

As a result, full-year revenue for the year ending 31 December was expected to be about £0.4m, with the majority of second-half revenue generated from markets outside the US.

Mirriad said it had cash of around £1m as at 30 November and expected to receive a tax credit of about £0.35m in the near term.

The firm added that, as outlined in its interim results, its cost base had been significantly reduced and was currently running at around £0.22m per month.

Mirriad said it would provide a full-year trading update in early January.

At 1601 GMT, shares in Mirriad Advertising were down 29.41% at 0.006p.

Reporting by Josh White for Sharecast.com.