Mirada sees strong second half due to largest customer Izzi Telecom

(Alliance News) - Mirada PLC announced on Thursday strong interim results, citing significant ...

Alliance News 2 December, 2021 | 3:49PM
Email Form Facebook Twitter LinkedIn RSS

(Alliance News) - Mirada PLC announced on Thursday strong interim results, citing significant increases in licences from its largest customer, Izzi Telecom, for the success.

For the 6 months ended 30 September, the software solutions provider narrowed its pretax loss to USD1.2 million from USD1.6 million in the same period of 2020.

Earnings before interest, tax, depreciation and amortisation nearly doubled, up 96% to USD1.1 million from USD570,000 in the same period of the previous year.

Revenue was also up, rising 10% to USD6.0 million from USD5.5 million in the same period of 2020.

Mirada's largest customer, Izzi Telecom, was responsible for just over three quarters of the company's total revenue for the period through its purchase of an increased number of licenses.

Mirada said it expects revenue from Izzi Telecom to "remain at high levels" moving forward.

Chief Executive Jose-Luis Vazquez commented: "The market is now in recovery and with a superior product and a clear sales strategy, we are in a strong position to return to the growth trajectory we were on before the pandemic. Existing customers are once again looking to invest in our products and services and, while the lead times on new business can be lengthy and hard to predict, our pipeline is large and we are having productive conversations with prospects on a daily basis.

"Of course, the operating environment is not without risk and uncertainty as seen with the increase in Covid precautions over the past few days, but we have proven how resilient we are in the toughest of conditions, and assuming the demand in the market remains strong, we are confident in our ability to deliver high levels of commercial and strategic progress through the second half and beyond."

Shares in Mirada were untraded at 73.00 pence on Thursday in London.

By Heather Rydings; heatherrydings@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

Email Form Facebook Twitter LinkedIn RSS

Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Mirada PLC

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

© Copyright 2025 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Modern Slavery Statement        Cookie Settings        Disclosures