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Mirada boosted from sale of car park payment solutions business

The TV and broadcasting software group said it had sold Mirada Connect to PayByPhone UK, a pay by phone payment operator for parking

Car park
Connect provides cashless payment solutions to car park operators in the UK

Mirada PLC (LON:MIRA) shares got a boost on Friday after netting £2.1mln from the sale of its payments solutions business, Mirada Connect.

The TV and broadcasting software group said it had sold Mirada Connect to PayByPhone UK, a pay by phone payment operator for parking.

WATCH: Mirada PLC expects to post positive earnings as sales exceed expectations

Mirada said that the business was not part of its core offering and had operated independently to the rest of the group, with the proceeds to be used for general working capital.

In the year ended 31 March 2019, the Connect business recorded revenue of £633,000 and a profit before tax of £122,000 and was valued at £556,000 on the company's balance sheet at that date.

The news sent the shares surging 14.7% higher to 1p in early deals.

Quick facts: Mirada PLC

Price: 134 GBX

AIM:MIRA
Market: AIM
Market Cap: £11.94 m
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