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 2024.
Results for the six-months ended 31 March 2024 are expected to set new highs for revenue and adjusted EBITDA. Revenue is expected to be approximately £22.5m (H1 2023: £20.5m) and adjusted EBITDA approximately £10.9m (H1 2023: £9.9m), both 10% higher year-on-year. Net cash at 31 March 2024 has increased to approximately £26.6m (31 March 2023: £23.6m), providing a very firm underpinning to the Company’s strong balance sheet.
The first half performance reflects ongoing strong demand from customers and the trading backdrop remains favourable. Telco digital transformation, the transition to Software-as-a-Service solutions and investment in enterprise software to achieve revenue and efficiency gains remain key features of the market, and consequently the Company’s sales pipeline is strong. It includes a number of substantial potential new contracts, which are at various stages of the negotiation process. The Board believes that Cerillion remains well-placed to meet market expectations for the current financial year and beyond.
Notice of results
The Board expects to announce interim results on 13 May 2024, and will provide a further update on current trading at that time.
