Cerillion expects revenue and profit surge in 2024

LONDON - Cerillion plc, a software solutions provider specializing in billing, charging, and customer relationship management, announced strong financial performance for the fiscal year ending September 30, 2024. The company anticipates a year-end revenue of approximately £43.8 million, up from £39.2 million in 2023, and adjusted pre-tax profits that exceed market expectations of £17.9 million, marking an increase from the previous year's £16.8 million.

The second half of the financial year saw robust trading, building on a record first half. Cerillion's net cash position strengthened, closing the year at £29.8 million compared to £24.7 million at the end of September 2023. The company attributes its success to a combination of new customer acquisitions and the growing value of its existing customer base.

Significant new orders were secured, surpassing any previous year's totals. Notable among these was a €12.4 million agreement signed with Virgin Media Ireland in November 2023 and an $11.1 million contract with a prominent Southern African connectivity solutions provider in May 2024. These deals are expected to contribute to future revenues.

In alignment with its expansion strategy, Cerillion has also transitioned to a new office in Sofia, Bulgaria, to support its near-shoring efforts. The company's back-order book is robust, and the sales pipeline includes several large prospective deals. The Board remains optimistic about Cerillion's growth trajectory.

Investors can anticipate a detailed report on the full-year results and an update on current trading in late November 2024. This forecast is based on a press release statement from Cerillion plc.

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Source: Investing.com