Cerillion PLC Trading Update and Notice of Results (8177X)

TIDMCER

RNS Number : 8177X

Cerillion PLC

02 May 2019

2 May 2019

AIM: CER

Cerillion plc

("Cerillion" or "the Group")

Trading Update and Notice of Results

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 GBP10.0 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 GBP7.0m (2018: GBP8.4m) and adjusted EBITDA approximately GBP0.4m (2018: GBP1.6m).

The Group intends to publish interim results on 20 May 2019 and will provide a further update on current trading at that time.

For further information please contact:

 
 Cerillion plc                        c/o KTZ Communications 
  Louis Hall, CEO                      T: 020 3178 6378 
  Oliver Gilchrist, CFO 
 
 Shore Capital (Nomad and Broker)     T: 020 7408 4090 
 Toby Gibbs, Mark Percy 
 
 KTZ Communications                   T: 020 3178 6378 
 Katie Tzouliadis, Dan Mahoney 
 
 

About Cerillion

www.cerillion.com

Cerillion has a 19-year track record in providing mission-critical software for billing, charging and customer relationship management ("CRM"), mainly to the telecommunications sector but also to other markets, including utilities and financial services. The Company has approximately 90 customer installations across 44 countries.

Headquartered in London, Cerillion has operations in Pune, India, where its Global Solutions Centre is located, and in Sydney and Miami.

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May 02, 2019 02:00 ET (06:00 GMT)