LONDON (Alliance News) - Cerillion PLC on Monday reported a slightly drop in profit for its first half due to some exceptional costs despite a rise in revenue year-on-year.
In the six months to March, Cerillion - which provides billing, charging, and customer management services - posted pretax profit of GBP472,231 compared to GBP725,161 in the same period a year earlier. On an adjusted basis, adding in the amortisation of acquired intangibles, the figure was GBP1.2 million, flat year-on-year.
The reported figure was hit by exceptional costs of GBP161,661 in extra rental charges as it fitted out its new London office as well as increased share-based payments.
Revenue increased 11% to GBP8.4 million, within which recurring revenue was up 15% year-on-year to GBP2.5 million.
Cerillion is paying an interim dividend of 1.5 pence each, up from 1.4p.
The company said it was a period of steady progress, and at the end of the period its back order book stood at GBP15.4 million compared to GBP14.7 million a year prior.
Cerillion said it is well positioned in its core market, and looking forward, it said the strong order book has boosted visibility while it is also "very encouraged" by the number of tender processes it is involved in.
Shares in the company were down 13% on Monday morning at 125.00p each.
Cerillion (CER)