Trading Update

RNS Number : 7831D

Cerillion PLC

24 October 2022

 

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 announce an update on trading for the financial year ended 30 September 2022.

Cerillion 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. During the period, the Company 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, 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 £10.1m. Net cash at 30 September 2022 is anticipated to close strongly at approximately £20.0m (30 September 2021: £13.2m), 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 is well-positioned as it enters the new financial year.

The Board intends to announce full year results in late November 2022, 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.

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, Cameron Duncan, William Hall
Singer Capital Markets (Joint Broker)	T: 020 7496 3000
Rick Thompson, George Tzimas, James Fischer
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 c.80 customer installations across c.44 countries. Headquartered in London, Cerillion also has operations in India, where its Global Solutions Centre is located, Australiaand Bulgaria.

 

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