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Results: MIRI

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Mirriad puts itself up for sale as it admits it is running out of cash ( again)

Mirriad Advertising (MIRI) today uttered the two words that should strike fear into the hearts of all investors: “strategic review.” That is stockmarket speak for “the game is up we are fucked.” Sure it tried to sugar the pill by initiating a formal sales process (FSP) and putting itself up for sale. Hey Cheryl darling I am waiting, ready, free and available.

Could you run a business that manages to burn £8.13 of cash for every £1 it makes in sales?

I am not sure that I could. Morally I’d feel bad about it and actually to be quite so useless not just in the year gone by but over five years as a listed company would be really hard work. Welcome to the world of Mirriad Advertising (MIRI) about which Steve and I have been bearish for half a decade. Today came another piss poor trading update.

Mirriad Advertising – interims arguing “well-placed to scale”. It fooling itself or trying to fool everyone else?

Describing itself as a “leading in-content advertising company” and stating it is “tracking strongly against the KPIs and are seeing a very clear acceleration of interest in the in-content format”, Mirriad Advertising (MIRI) has announced first half of 2022 results. So what of a 7.75p share price – down from a start of year 28p!?


Another dire warning from Mirriad – bonuses for what FFS? Sack the CEO Now, this is a disgrace!

The half year trading update from Mirriad Advertising (MIRI), out this morning, is truly appalling, and shows that those running the company are living in a parallel universe of self-entitlement. This company, which has never turned a cent of profit and whose revenues have always been less than your average East Midlands corner store, pays bonuses. Bonuses for what, FFS?

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