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 2020.
Trading Update
Trading over the remainder of the second half continued strongly and, as previously announced, the Company signed its largest ever contract in mid-September. This helped to take the back-order book* at the financial year end to a record high. As a result, management now expects revenue and adjusted EBITDA for the financial year to be slightly ahead of current market expectations. Net cash at the year-end is expected to be significantly ahead of market expectations at approximately £7.7m.
The Company is well-positioned as it enters the new financial year. The new business pipeline remains strong, with opportunities across all regions, and, to date, the coronavirus pandemic has not affected the Company’s sales processes, implementations or ability to support its customer base to any significant degree.
Notice of Results
Cerillion intends to announce its full year results on 23 November 2020, when a further update on trading will be provided.
*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.
