REG - Cerillion PLC - Trading Update

CerillionAnnouncement

21/10/2024 07:00

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RNS Number : 8509I  Cerillion PLC  21 October 2024

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

 

Cerillion, the billing, charging and customer relationship management software
solutions provider, is pleased to provide an update on trading for the
financial year ended 30 September 2024.

 

The Company traded well over the second half of the financial year, after
record first-half revenue and adjusted pre-tax profit. Revenue for the year is
expected to be approximately £43.8m (2023: £39.2m), and adjusted profit
before tax is expected to be comfortably ahead of the consensus market
forecast of £17.9m (2023: £16.8m). The balance sheet remains strong, with
net cash at the financial year-end increased to £29.8m (30 September 2023:
£24.7m).

 

Total new orders signed in the year were significantly greater than in any
previous year, reflecting new customer wins as well as the growing value of
the installed base. The full benefit of these new orders is still to come
through. New orders secured in the period included two major new customer
agreements; a €12.4m win signed in early November 2023 with Virgin Media
Ireland and an $11.1m contract signed in May 2024 with a leading provider of
connectivity solutions in Southern Africa. As part of its expanding commitment
to near-shoring in Bulgaria, the Company also moved to a new office in Sofia,
in line with its growth plans.

 

The Company has entered the new financial year with a robust back-order book*
and a strong sales pipeline, which includes some large opportunities. The
Board continues to view growth prospects very positively.

 

Notice of Results

 

Full year results are due to be reported in late November 2024, when the
Company will also 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.

Enquiries:

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

 Panmure Liberum (Nomad and Joint Broker)                      T: 020 3100 2000
 Bidhi Bhoma, Edward Mansfield, Matthew Hogg, Freddie Wooding

 Singer Capital Markets (Joint Broker)                         T: 020 7496 3000
 Rick Thompson, 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.45 countries. Headquartered in London, Cerillion also has operations
in India and Bulgaria, as well as sales presence in the USA, Singapore and
Australia.

 

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