Cerillion plc (LON:CER), the billing, charging and customer relationship management software solutions provider, has provided an update on trading for the financial year ended 30 September 2024.
The Company traded well over the second half of the financial year, after record first-half revenue and adjusted pre-tax profit. Revenue for the year is expected to be approximately £43.8m (2023: £39.2m), and adjusted profit before tax is expected to be comfortably ahead of the consensus market forecast of £17.9m (2023: £16.8m). The balance sheet remains strong, with net cash at the financial year-end increased to £29.8m (30 September 2023: £24.7m).
Total new orders signed in the year were significantly greater than in any previous year, reflecting new customer wins as well as the growing value of the installed base. The full benefit of these new orders is still to come through. New orders secured in the period included two major new customer agreements; a €12.4m win signed in early November 2023 with Virgin Media Ireland and an $11.1m contract signed in May 2024 with a leading provider of connectivity solutions in Southern Africa. As part of its expanding commitment to near-shoring in Bulgaria, the Company also moved to a new office in Sofia, in line with its growth plans.
Cerillion has entered the new financial year with a robust back-order book* and a strong sales pipeline, which includes some large opportunities. The Board continues to view growth prospects very positively.
Notice of Results
Full year results are due to be reported in late November 2024, when Cerillion will also 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.
