Mirriad Advertising PLC (AIM:MIRI, OTCQX:MMDDF) share fell more than a quarter on Wednesday following the group’s latest trading statement.
Revenues for the year are expected to fall between £1.52mln and £1.75mln, slightly short of market expectations, pending a number of late deals which may be won and delivered before the year end.
Underlying losses (EBITDA) are expected to be £15.5mln for the year, though Mirriad’s cash position will actually be better than forecast “thanks to tight and ongoing efficiency measures”.
AIM-listed MIRI shares are currently changing hands at 5.02p with a market capitalisation of £14mln.