StockMarketWire.com - Marketing technology group Mirriad Advertising said it expected to more than double its annual revenue, as it continued to sign up broadcasters and distributors.

Revenue for the year through December was seen jumping to £1.14m compared, up from £0.42m in 2018.

'Trading is in line with guidance given to the market in July 2019,' Mirriad said.

Year-end cash was seen at £19.1m, with monthly cash consumption over the course of that year averaging slightly below £1m per month.

'We continue to make strong progress, following the large-scale strategic reset in 2019,' chief executive Stephan Beringer said.

'The steady flow of new agreements with top-tier content producers and distributors as well as the growing enthusiasm from major advertisers and agencies are evidence of the accelerating traction in the market and the increasing adoption of Mirriad's proposition.'

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