Cerillion FY profit seen 'meaningfully ahead' of consensus

16th Oct 2023 07:26

(Sharecast News) - Cerillion said on Monday that adjusted pre-tax profit for the year to the end of September was set to be "meaningfully ahead" of consensus expectations of £14.3m following "continued strong progress" in the second half.

The provider of billing, charging and customer relationship management software solutions said that after a very strong first six months- which set new records for revenue and adjusted pre-tax profit - it entered the second half "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 £15.1m new contract with an existing customer and completion of a major initial installation for Telesur, as announced in June and July respectively," it said.

Revenue for the year is expected to be around £39.0m, with sales to existing customers "significantly greater" than any previous year, reflecting the growing value of the installed base.

"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," Cerillion said.

"The company therefore expects to make further encouraging progress over the course of the new financial year."

At 0840 BST, the shares were up 8.9% at 1,154p.