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(Sharecast News) - Mirriad Advertising shares were sliding on Friday after it said it expected full-year revenue to remain modest in 2025, as the virtual product placement group continued to operate with a significantly reduced cost base.
The AIM-traded company said revenue for the second half was expected to be around 0.2m, with some additional revenue still to be recognised before the end of December.
As a result, full-year revenue for the year ending 31 December was expected to be about 0.4m, with the majority of second-half revenue generated from markets outside the US.
Mirriad said it had cash of around 1m as at 30 November and expected to receive a tax credit of about 0.35m in the near term.
The firm added that, as outlined in its interim results, its cost base had been significantly reduced and was currently running at around 0.22m per month.
Mirriad said it would provide a full-year trading update in early January.
At 1601 GMT, shares in Mirriad Advertising were down 29.41% at 0.006p.
Reporting by Josh White for Sharecast.com.
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