- Mirriad Advertising said it had exited operations in Brazil and India as part of a strategy overhaul announced by new chief executive Stephan Beringer.

The company said it would now focus on markets with high per capita advertising spending and in particular the US, UK, Germany, France and China.

'The business has been taken on a path to market that was significantly out of touch with its content and distribution partners as well as advertisers and their agencies,' Beringer said.

'A reset is clearly needed.'

Myriad said it would attempt to build scale by attracting additional distribution partners, as well as content producers.

At 9:16am: [LON:MIRI] Mirriad Advertising Plc Ord Gbp0.00001 share price was -1.75p at 7.75p

Story provided by