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Mirada PLC - COVID-19 Update

RNS Number : 9821I
Mirada PLC
07 April 2020
 

7 April 2020

Mirada plc

("Mirada" or the "Company")

 

 COVID-19 Update

Mirada (AIM: MIRA), a leading provider of integrated software solutions for digital TV operators and broadcasters, provides an update on its response to the COVID-19 outbreak. The Company is pleased to announce that there has been minimal impact from COVID-19 on its business to date.

Mirada proactively migrated all its staff to a remote working environment on Tuesday 10 March, several days ahead of the lockdown in all the countries in which it operates. This was a relatively smooth and simple process as the Company had introduced the ability for its staff to work remotely several years ago.  This measure was introduced as a benefit to employees; in order to maximise the flexibility of the Company's workforce; and to ensure Mirada's operations could continue with minimal disruption, as has been the case on this occasion.

 

In addition, Mirada is currently assisting its clients as they take measures to maximise the support given to their customers during these turbulent times. These include:

 

·    Spanish operator PTV Telecom, where Mirada is working on the forthcoming OTT platform, Zapi, and which is increasing the speed of its fibre optic internet and providing free installation to internet customers;

·    One Communications in Bermuda, a client of Mirada's Iris solution, which is doubling the data on offer to customers and introducing several new channels, all free of charge;

·    Mirada's largest client, izzi Telecom in Mexico, which is providing numerous discounts for its online content, numerous new channels, unlimited internet to fixed services and unlimited calls to friends and family; and

·    Skytel in Mongolia, to which Mirada provides OTT services, which is working with its government to ensure all students are given free mobile access to "tele-lessons" on open educational resources and has reduced internet fees for civil servants.

 

Mirada does not expect any significant impact from COVID-19 on revenue for the fiscal year ended 31 March 2020. The Company has commenced the process of preparing its year end accounts and expects to be able to provide a further trading update before the end of the month.

 

Regarding the potential impact of COVID-19 on the new fiscal year, this will largely depend on the performance of Mirada's customers. While there has been a substantial increase in the levels of consumption of broadband and audio-visual services, which are the main revenue drivers for Mirada's customers, it is too early to assess the impact that COVID-19 could have on the Company's revenue this financial year.

 

Jose Luis Vazquez, CEO of Mirada, commented: "We are very pleased that the business continuity systems we put in place several years ago have enabled Mirada to fully transition to a remote working environment with minimal impact on our operations. We are also able to continue to provide the same high levels of service our customers have come to expect from us. In addition, we are encouraged by the actions being taken by our clients to support their customers in these uncertain times."

 

Enquiries:

 

Mirada plc

José Luis Vázquez, Chief Executive Officer

Gonzalo Babío, Chief Financial Officer

 

+44 (0) 207 868 2104

[email protected]

 

Newgate Communications

Bob Huxford

Tom Carnegie

Megan Kovach

 

Allenby Capital Limited

(AIM Nominated Adviser and Broker)

Jeremy Porter

Liz Kirchner

 

+44 (0) 207 653 9850

[email protected]

 

 

 

+44 (0) 20 3328 5656

 

About Mirada

 

Mirada is a leading provider of products and services for Digital TV Operators and Broadcasters. Founded in 2000 and led by CEO José Luis Vázquez, the Company prides itself on having spent almost 20 years as a pioneer in the Digital TV market. Mirada's core focus is on the ever-growing demand for TV Everywhere for which it offers a complete suite of end-to-end modular products across multiple devices, all with innovative state-of-the-art UI designs.

 

Mirada's products and solutions, acclaimed for unparalleled flexibility and optimal time to market, have been deployed by some of the biggest names in digital media and broadcasting including Televisa, Telefonica, Sky, Virgin Media, BBC, ITV and France Telecom. Headquartered in London, Mirada has commercial representation across Europe, Latin America and Southeast Asia and operates technology centres in the UK, Spain and Mexico. For more information, visit www.mirada.tv

 

 

                                                                                


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: Mirada PLC

Price: 90

Market: AIM
Market Cap: £8.02 m
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