(Sharecast News) - Billing, charging and customer relationship management (CRM) software specialist Cerillion said in an update on Monday that its first-half results were expected to reach new heights in terms of revenue and adjusted EBITDA.
The AIM-traded company said revenue for the six months ended 31 March was anticipated to be £22.5m, making for a 10% increase from £20.5m in the same period last year.
Similarly, adjusted EBITDA was to total around £10.9m, reflecting 10% year-on-year growth from £9.9m in the first half of the 2023 financial year.
The company said its net cash position at the end of March had risen to £26.6m compared to £23.6m on 31 March.
It put down the strong first-half performance to continued strong demand from customers, with a favourable trading backdrop.
Key market trends included telco digital transformation, the shift towards software-as-a-service (SaaS) solutions, and investments in enterprise software to drive revenue and efficiency gains.
Cerillion said its sales pipeline remained robust, bolstered by several substantial potential new contracts at various negotiation stages.
The board said it was confident that the company was well-positioned to meet market expectations for the current financial year and beyond, buoyed by its strong financial performance, ongoing demand for its solutions, and a promising sales pipeline.
Cerillion said it would announce its interim results for the six months ended 31 March on 13 May, when it would also provide a further update on current trading.
At 0800 BST, shares in Cerillion were up 1.34% at 1,515p.
Reporting by Josh White for Sharecast.com.
Cerillion (CER)