Cerillion expects decent second half after weaker start to year

2nd May 2019 15:02

(Sharecast News) - Billing, charging and customer relationship management software provider Cerillion updated the market on the first six months of its current financial year on Thursday, reporting that trading had been "encouraging", with a major new contract worth an initial $6.8m signed in February and additional major contracts worth more than £10m, progressing to final stages.The AIM-traded firm said that once signed, those contracts would make a "substantial" contribution to the second half, with profitability in particular benefiting from the significant high margin licence components.As a result, the board said it anticipated that the group's results for the current financial year would be "significantly" weighted towards the second half, and that it remained on track to meet current market forecasts for the full year."Results for the first half will be behind the same period last year, given the timing of contract closures, with revenue expected to be approximately £7.0m and adjusted EBITDA approximately £0.4m," the board said in its statement.Cerillion said it intended to publish interim results for the period ended 30 March on 20 May.