22nd Oct 2018 09:45
LONDON (Alliance News) - Software company Cerillion PLC on Monday said results for 2018 financial year are likely to meet market expectations due to a strong second half trading performance.
Cerillion helps businesses with charging, billing, and managing customer relationships through the use of its software.
For the year ended September 30, the company anticipates 8% growth in revenue to GBP17.4 million. Adjusted earnings before interest, taxes, depreciation, and amortization is predicted to rise 9% to GBP3.9 million.
In the first half to March-end, Cerillion posted an 11% increase in revenue to GBP8.4 million, but exceptional costs and extra rental charges on its new office dragged pretax profit down to GBP472,231 from GBP725,161 the year before. Adjusted Ebitda for the interim period stood atGBP1.6 million, up 6%.
"Trading in the second half of the financial year has been very encouraging, well supported by new orders," said Cerillion.
"The company is advancing with contract negotiations with major potential new customers, and its new business pipeline, including the range and quality of opportunities, remains very positive," Cerillion added.
Shares in Cerillion were up 4.1% at 152.00 pence on Monday. The company is scheduled to release its 2018 financial year results towards the end of November.
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