Cerillion PLC (AIM:CER) said it entered the second half of the financial year with a strong back-order book and continued to trade very well throughout the period, including securing the company's largest contract to date in the fourth quarter.
In a trading update, the billing, charging and customer relationship management software solutions provider, said during the period it benefitted significantly from favourable foreign exchange rates and higher resource utilisation, as well as lower net finance costs and lower depreciation and amortisation than anticipated.
As a consequence, the company added, whilst revenue is expected to be marginally ahead of market expectations, adjusted profit before tax for the financial year is now expected to be materially ahead of the consensus market forecast of £10.1mln. Net cash as at 30 September 2022 is anticipated to close strongly at approximately £20.0mln (30 September 2021: £13.2mln), which is also ahead of market expectations.
The pipeline of new business opportunities, from both existing and prospective new customers, remains buoyant and the company said it is well-positioned as it enters the new financial year.
Cerillion said it intends to announce its full-year results in late November 2022, when it will provide a further update on current trading.
Headquartered in London, Cerillion also has operations in India, where its Global Solutions Centre is located, Australia and Bulgaria. The company currently has around 80 customer installations across about 44 countries.
Shares jumped 8.94% to 1,133.00p in morning trade.