Trading Update

RNS Number : 8269N

Cerillion PLC

04 October 2021

 

AIM: CER

 Cerillion plc

("Cerillion" or "the Company")

Trading Update

and Notice of Results

Cerillion, the billing, charging and customer relationship management software solutions provider, is pleased to announce an update on trading for the financial year ended 30 September 2021.

Trading Update

Cerillion entered the second half of the financial year with a record level of new orders and a record back order book. New orders included two of the largest contracts the Company has secured to date. These and other implementations are progressing well. Reflecting continuing strong trading, revenue for the financial year is expected to be slightly ahead of current consensus market forecasts. However, as a result of a higher proportion of term licence sales than anticipated, adjusted profit before tax is expected to be significantly higher than current consensus market forecasts. Net cash at 30 September 2021 is also anticipated to close very strongly, ahead of projections, at approximately £13.0m (30 September 2020: £7.7m).

The Company has a strong pipeline of new business opportunities from both existing and prospective new customers and remains well-positioned as it enters the new financial year. The opening of a new office in Bulgaria in September 2021 will support the Company's continuing growth and is expected to expand quickly to become a new strategic base.

Notice of Results

The Board intends to announce full year results on 22 November 2021, when the Company will 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.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the company's obligations under Article 17 of MAR.

Cerillion plc	c/o KTZ Communications
Louis Hall, CEO	T: 020 3178 6378
Oliver Gilchrist, CFO
Liberum (Nomad and Broker)	T: 020 3100 2000
Bidhi Bhoma, Euan Brown, William Hall
KTZ Communications	T: 020 3178 6378
Katie Tzouliadis, Dan Mahoney

About Cerillion

www.cerillion.com

Cerillion is a leading provider of mission critical software for billing, charging and customer relationship management ("CRM"), mainly serving the telecommunications market but also other sectors such as utilities and financial services. The Company currently has over 90 customer installations across over 40 countries.

Headquartered in London, Cerillion also has operations in Pune, India, where its Global Solutions Centre is located, Miami, Sydney and Bulgaria, where it has recently opened an office.

 

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