(Alliance News) - Cerillion PLC shares jumped on Monday morning after it reported it expects its full-year profit to be "meaningfully ahead" of market forecasts due to a strong order book and sales pipeline in the second half.
Shares in the London-based billing, charging and customer relationship management software solutions provider were 8.4% higher at 1,149.50 pence each in London on Monday morning.
Cerillion said positive trading was helped by the signing of a new contract worth GBP15.1 million with an existing unnamed customer back in June for the use of its Evergreen software programme, as well as the completion of a "major" installation for Telesur in July.
As a result, Cerillion said it will beat adjusted pretax profit market expectations of GBP14.3 million in the financial year ended September 30, and expects revenue of around GBP39.0 million. This would be an increase from the adjusted pretax profit GBP11.9 million and GBP32.7 million revenue achieved in financial 2022.
Looking ahead, the firm said it expects further progress going into the new financial year due to growth in its new customer sales pipeline in the second half of the year.
By Sabrina Penty, Alliance News reporter
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Cerillion (CER)