Cerillion Share News (CER)

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1,055.00 15.00 (1.44%)

Bid:

1,040.00

Ask:

1,070.00

Spread: 30.00 (2.885%)

Market Cap: £311.65m

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Cerillion reports 'strong' second half trading

Thu, 15th Oct 2020 11:38

(Sharecast News) - Billing and customer relationship management software company Cerillion said on Thursday that trading over the rest of its second half continued strongly, as it signed its largest ever contract in mid-September.
The AIM-traded firm said that helped to take the backorder book at the financial year-end on 30 September to a record high.

As a result, it said it now expected revenue and adjusted EBITDA for the financial year to be "slightly ahead" of current market expectations.

Net cash at year-end was expected to be "significantly ahead" of market expectations, at around £7.7m.

"The company is well-positioned as it enters the new financial year," the Cerillion board said in its statement.

"The new business pipeline remains strong, with opportunities across all regions, and, to date, the coronavirus pandemic has not affected the company's sales processes, implementations or ability to support its customer base to any significant degree."

Cerillion said it would announce its full year results on 23 November, when a further update on trading would also be provided.

At 1006 BST, shares in Cerillion were flat at 306p.