Cerillion shares drop after profit and revenue fall in first half

(Alliance News) - Cerillion PLC on Monday reported a decrease in its first half profit and revenue, but expects a "stronger performance" in its second half.

Cerillion is a London-based billing, charging and customer relationship management software solutions provider.

Cerillion shares fell 8.9% to 1,671.10 pence each in London on Monday morning.

In the six months ended March 31, the company reported a pretax profit of GBP9.3 million, down 11% from GBP10.4 million the previous year. The firm's first half revenue decreased 7.1% to GBP20.9 million, from GBP22.5 million.

This was attributed to "the anticipated shift in weighting of customer extensions and renewals." The firm contrasted this shift to the year prior, in which the majority of renewals and extensions occurred in the first half.

Cerillion also declared an interim dividend of 4.8 pence per share, up 20% from 4.0 pence the previous year.

Looking forward, the company said it expects a "stronger performance" in its second half, and is "well-placed" to deliver market expectations for the financial year and beyond.

Chief Executive Officer Louis Hall said: "Based on new orders achieved to date and current trading, we believe Cerillion is well-placed to deliver market expectations for the full year and beyond. We continue to view long-term prospects with confidence."

By Olivia Mason-Myhill, Alliance News reporter

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