Last checked at 15 Oct 2020 07:00
AIM: CER
Cerillion plc
("Cerillion" or "the Company")
Trading Update and Notice of Results
Cerillion, the billing, charging and customer relationship management software solutions provider, is pleased to announce an update on trading for the financial year ended 30 September 2020.
Trading Update
Trading over the remainder of the second half continued strongly and, as previously announced, the Company signed its largest ever contract in mid-September. This helped to take the back-order book* at the financial year end to a record high. As a result, management now expects revenue and adjusted EBITDA for the financial year to be slightly ahead of current market expectations. Net cash at the year-end is expected to be significantly ahead of market expectations at approximately £7.7m.
The Company is well-positioned as it enters the new financial year. 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.
Notice of Results
The Company intends to announce its full year results on 23 November 2020, when a further update on trading will be provided.
*Back-order book consists of sales contracted but not yet recognised as revenue at the end of the reporting period plus annualised support and maintenance revenue.
This announcement contains inside information as defined in Article 7 of the Market Abuse Regulation (EU) 596/2014. The person responsible for making this announcement on behalf of the Company is Oliver Gilchrist.
For further information please contact:
Cerillion plc Louis Hall, CEO Oliver Gilchrist, CFO |
| c/o KTZ Communications T: 020 3178 6378 |
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Liberum (Nomad and Broker) Bidhi Bhoma, Euan Brown, William Hall |
| T: 020 3100 2000 |
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KTZ Communications |
| T: 020 3178 6378 |
Katie Tzouliadis, Dan Mahoney |
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About Cerillion
www.cerillion.com
Cerillion is a leading provider of mission critical software for billing, charging and customer relationship management ("CRM"), mainly serving the telecommunications market but also other sectors such as utilities and financial services. The Company currently has over 90 customer installations across over 40 countries. Headquartered in London, Cerillion also has operations in Pune, India, where its Global Solutions Centre is located, Miami and Sydney.