Cerillion Plc (LON:CER), the billing, charging and customer relationship management software solutions provider, has announced an update on trading for the financial year ended 30 September 2023.
After a very strong first six months, which set new records for revenue and adjusted pre-tax profit, Cerillion entered the second half of the financial year very well-placed, with both a strong back-order book* and buoyant sales pipeline. This positive trading picture has been maintained through the second half, including signing a £15.1 million new contract with an existing customer and completion of a major initial installation for Telesur, as announced in June and July respectively.
As a result of this continued strong progress, adjusted profit before tax is expected to be meaningfully ahead of the consensus market forecast of £14.3m. Revenue is expected to be approximately £39.0m, with sales to existing customers significantly greater than any previous year, reflecting the growing value of the installed base. Net cash at 30 September 2023 closed strongly at approximately £24.7m (30 September 2022: £20.2m).
As well as the demand the Company is experiencing from the existing customer base, the new customer sales pipeline grew again in the second half and includes some large opportunities. The Company therefore expects to make further encouraging progress over the course of the new financial year.
Notice of Results and Capital Markets Event
The Board intends to announce full year results in late November 2023, and will provide a further update on current trading at this point.
Cerillion Plc will be hosting a Capital Markets Event for sell-side analysts and institutional investors on Tuesday, 28 November 2023 at 12.00pm. The event will feature presentations from senior management in marketing and product development within Cerillion as well as an opportunity for Q&A.
*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.
