Shares Down 6.3% Amid Declining Revenue and Missed Expectations

  • Mirriad Advertising shares fell after reporting lower revenue than expected for H1 and issuing a full-year warning
  • Revenue for the six months ended June 30 was £390,000 compared to £592,000 in the previous year
  • U.S. revenue fell from £310,000 to £230,000 and Europe/Middle East revenue dropped from £250,000 to £150,000
  • German partners’ revenue increased by 17% for the period
  • Pretax loss narrowed to £4.9m from £7.2m due to reduced administrative expenses
  • No full-year revenue forecast provided, but expected to be around £2.5m according to FactSet estimate
  • Board didn’t declare a dividend for the interim period

Mirriad Advertising’s shares dropped following the announcement of lower-than-expected revenue for H1 and a full-year warning. The company reported £390,000 in revenue for the six months ended June 30, down from £592,000 in the previous year. U.S. revenue fell to £230,000 from £310,000, and Europe/Middle East revenue dropped to £150,000 from £250,000. German partners’ revenue increased by 17%. Pretax loss narrowed to £4.9m from £7.2m due to reduced administrative expenses. No full-year revenue forecast was provided, but it is expected to be around £2.5m. The board didn’t declare a dividend for the interim period.

Factuality Level: 7
Factuality Justification: The article provides accurate and objective information about Mirriad’s financial performance, including revenue figures, market expectations, and reasons for the decline in revenue. It also includes relevant details about the company’s operations in different regions and mentions a forecast by Allenby Capital. However, it lacks context or background information on Mirriad as a whole, which could make it difficult for readers unfamiliar with the company to fully understand its situation.
Noise Level: 4
Noise Justification: The article provides relevant information about the company’s financial performance and its reasons for lower revenue, but it lacks analysis or exploration of long-term trends or consequences of decisions. It also doesn’t offer actionable insights or new knowledge.
Public Companies: Mirriad Advertising (MIRI)
Key People:

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Financial Relevance: Yes
Financial Markets Impacted: Mirriad Advertising shares fell after reporting lower revenue and missing market expectations, impacting the company’s stock price.
Financial Rating Justification: The article discusses a company’s financial performance and its impact on the stock market.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in this article.
Move Size: 6.3%
Sector: Technology
Direction: Down
Magnitude: Large
Affected Instruments: Stocks

Reported publicly: www.marketwatch.com