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Cerillion predicts in-line results, says flush with cash

The second half of the year saw Cerillion sign three major contracts, with these new wins continuing the trend towards larger deal sizes.

Cerillion Technologies Limited -
Over the year, major new contracts were secured from all of the company's key international geographies

Software house Cerillion PLC (LON:CER) expects its results for the year to the end of September 2019 to be in line with markets expectations.

In a trading update, the AIM-listed company said its revenues rose by 8% to around £18.7mln in the financial year just ended, up from £17.4mln the year before.

Adjusted underlying earnings (EBITDA) climbed 14% to around £4.5mlm from £3.9mln the previous year, it added, while net cash doubled to around £5.0mln, ahead of market forecasts.

The billing, charging and customer relationship management software solutions provider said that, as expected, trading had been weighted significantly to the second half of the year.

The second half of the year saw Cerillion sign three major contracts, with these new wins continuing the trend towards larger deal sizes.

“This good progress, together with an encouraging pipeline of further business opportunities, has set a strong foundation for continuing progress in the new financial year,” the company said in its statement.

Cerillion’s shares were unchanged in early deals.

Quick facts: Cerillion Technologies Limited

Price: 246 GBX

AIM:CER
Market: AIM
Market Cap: £72.6 m
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