Cerillion reports robust first half of trading

17th Apr 2023 09:33

(Sharecast News) - Billing, charging, and customer relationship management software specialist Cerillion reported robust first-half trading in an update on Monday, with record-breaking revenue and adjusted EBITDA making for a substantial increase in year-on-year growth.

The AIM-traded company said revenue in the six months ended 31 March was expected to rise 27% to around £20.5m, from £16.1m in the first half of last year.

Adjusted EBITDA was meanwhile predicted to increase 38% to about £9.9m, from £7.2m a year earlier.

Net cash as at 31 March also showed a significant increase, of 43% to £23.6m, further strengthening Cerillion's balance sheet.

The firm put the strong first-half performance down to increasing demand from customers, amid a continuing surge in demand for telecoms services and significant investment in the rollout of 5G and fibre connectivity services.

"Cerillion's sales pipeline remains strong and this, together with the record performance in the first half of the year, underpins the board's confidence that trading for the full year will be in line with consensus market forecasts," the company's directors said in their statement.

Cerillion said it would announce its interim results for the six months ended 31 March in mid-May, when it would also provide a further update on current trading.

At 0908 BST, shares in Cerillion were up 1.83% at 1,222p.

Reporting by Josh White for Sharecast.com.