Cerillion entered the second half of the financial year with a record level of new orders and a record back order book. New orders included two of the largest contracts the Company has secured to date. These and other implementations are progressing well. Reflecting continuing strong trading, revenue for the financial year is expected to be slightly ahead of current consensus market forecasts. However, as a result of a higher proportion of term licence sales than anticipated, adjusted profit before tax is expected to be significantly higher than current consensus market forecasts. Net cash at 30 September 2021 is also anticipated to close very strongly, ahead of projections, at approximately £13.0m (30 September 2020: £7.7m).
The Company has a strong pipeline of new business opportunities from both existing and prospective new customers and remains well-positioned as it enters the new financial year. The opening of a new office in Bulgaria in September 2021 will support the Company’s continuing growth and is expected to expand quickly to become a new strategic base.
Notice of Results
The Board intends to announce full year results on 22 November 2021, when cerillion will provide a further update on current trading.
*Back-order book consists of sales contracted but not yet recognised as revenue at the end of the reporting period plus annualised support and maintenance revenue.