Cerillion, the billing, charging and customer relationship management software solutions provider, provides a trading update on the first six months of its current financial year ending 30 September 2019.
Trading in the first six months of the financial year has been encouraging, with a major new contract worth an initial USD 6.8 million signed in February and additional major contracts worth in excess of £10.0 million, progressing to final stages. Once signed, these contracts will make a substantial contribution to the second half, with profitability in particular benefiting from the significant high margin licence components. Accordingly, the Board anticipates that the Group’s results for the current financial year will be significantly weighted towards the second half, and that the Company remains on track to meet current market forecasts for the full year.
Results for the first half will be behind the same period last year, given the timing of contract closures, with revenue expected to be approximately £7.0m (2018: £8.4m) and adjusted EBITDA approximately £0.4m (2018: £1.6m).
The Group intends to publish interim results on 20 May 2019 and will provide a further update on current trading at that time.