REG - Cerillion PLC - Trading Update

CerillionAnnouncement

16/10/2023 07:00

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RNS Number : 1520Q  Cerillion PLC  16 October 2023

AIM: CER

 

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

("Cerillion" or "the Company")

 

Trading Update and

Notice of Results and Capital Markets Event

 

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 2023.

 

After a very strong first six months, which set new records for revenue and
adjusted pre-tax profit, Cerillion entered the second half of the financial
year very well-placed, with both a strong back-order book* and buoyant sales
pipeline. This positive trading picture has been maintained through the second
half, including signing a £15.1 million new contract with an existing
customer and completion of a major initial installation for Telesur, as
announced in June and July respectively.

 

As a result of this continued strong progress, adjusted profit before tax is
expected to be meaningfully ahead of the consensus market forecast of £14.3m.
Revenue is expected to be approximately £39.0m, with sales to existing
customers significantly greater than any previous year, reflecting the growing
value of the installed base. Net cash at 30 September 2023 closed strongly at
approximately £24.7m (30 September 2022: £20.2m).

 

As well as the demand the Company is experiencing from the existing customer
base, the new customer sales pipeline grew again in the second half and
includes some large opportunities. The Company therefore expects to make
further encouraging progress over the course of the new financial year.

 

Notice of Results and Capital Markets Event

 

The Board intends to announce full year results in late November 2023, and
will provide a further update on current trading at this point.

Cerillion will be hosting a Capital Markets Event for sell-side analysts and
institutional investors on Tuesday, 28 November 2023 at 12.00pm. The event
will feature presentations from senior management in marketing and product
development within Cerillion as well as an opportunity for Q&A.

*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.

 Cerillion plc                                c/o KTZ Communications
 Louis Hall, CEO                              T: 020 3178 6378
 Andrew Dickson, CFO

 Liberum (Nomad and Broker)                   T: 020 3100 2000
 Bidhi Bhoma, Ben Cryer, Matthew Hogg

 Singer Capital Markets (Joint Broker)        T: 020 7496 3000
 Rick Thompson, George Tzimas, James Fischer

 KTZ Communications                           T: 020 3178 6378
 Katie Tzouliadis, Robert Morton

 

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 c.80 customer installations
across c.44 countries. Headquartered in London, Cerillion also has operations
in India, where its Global Solutions Centre is located, and in Bulgaria.

 

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