Mirada goes into the red

December 11, 2013 11.09 Europe/London By Julian Clover

Interactive application provider Mirada found itself in negative territory after a fall in lower professional services revenue.

The company, which sells predominantly in Spain and Latin America, delivered a pre-tax loss of £173,000 for the six months to September 2013, falling from £25,000 in 2012.

Miranda is looking to an unnamed operator in the Latin American market to bring in new revenues following a $1.4 million contract. If the rollout of its Iris television interface proves successful, and the technology rolled out across the network a significant increase in licence fees will follow.

A total of £2.1 million has been secured from a recent share placing.