Cerillion plc (LON:CER), the billing, charging and customer relationship management software solutions provider, has announced an update on trading for the first six months of its current financial year ending 30 September 2021.
Cerillion has experienced its strongest ever six-month trading period, exceeding management expectations. Revenue for the first half ended 31 March 2021 is expected to total approximately £12.8m, a 25% increase on the same period last year (H1 2020: £10.2m) and adjusted EBITDA is expected to be approximately £4.8m, a 77% rise on the comparative period last year (H1 2020: £2.7m). The Company’s balance sheet remains strong, with net cash at 31 March 2021 up by 60% to approximately £7.7m (31 March 2020: £4.8m).
This excellent performance reflects three major factors; on-going work on new customer implementation projects, strong demand from existing customers, and two major contract wins totalling £18.4m, which were secured in March 2021.
Reflecting the strong momentum in the business, the Company has added further resource. In addition, the Company completed Cerillion 21.1 in the period. This is the latest version of its Enterprise OSS/BSS suite for fixed, mobile, cable and multi-service operators, and will be released this month. The new release provides customers with enhanced B2B functionality, with a particular focus on lead and opportunity management.
Cerillion’s sales pipeline remains strong, and prospects for the remainder of the financial year are very positive.
Notice of results
The Board intends to announce interim results for the six months to 31 March 2021 on 17 May 2021, when the Company will provide a further update on current trading.
Louis Hall, Chief Executive of Cerillion, commented:
“The business has performed very strongly over the first half, and new orders in the period have equalled total new orders for the whole of the last financial year. Our last contract win represented another major milestone for us, and reflects growing market recognition of the quality of our solution and services.
“We have a strong pipeline of potential new business and remain well-positioned for continuing growth this financial year and next.”