Mirada PLC COVID-19 Update (9821I)
07 April 2020 - 4:00PM
UK Regulatory
TIDMMIRA
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 +44 (0) 207 868 2104
José Luis Vázquez, Chief investors@mirada.tv
Executive Officer
Gonzalo Babío, Chief Financial
Officer
Newgate Communications +44 (0) 207 653 9850
Bob Huxford mirada@newgatecomms.com
Tom Carnegie +44 (0) 20 3328 5656
Megan Kovach
Allenby Capital Limited
(AIM Nominated Adviser and Broker)
Jeremy Porter
Liz Kirchner
--------------------------
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
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END
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