Cerillion full-year profit rises amid 'record' new orders value

Cerillion PLC on Monday reported a rise in full-year profit as the company hailed a ‘record’ for its new orders and customer sales pipeline.

The London-based billing, charging and customer relationship management software company said pretax profit for the financial year ended September 30 rose 10% to £21.7 million from £19.7 million the year before.

This was driven by a 3.7% increase in revenue to £45.4 million from £43.8 million, which Cerillion attributed to the timing of contract wins.

Total new orders rose 25% to £47.6 million from £38.1 million the year before. ‘Cerillion has continued to make very pleasing progress, and in the year under review we signed a record value of new orders,’ the company said.

Further supporting the bottom line, impairment losses on financial assets narrowed 92% to £27,000 from £340,000.

Following the launch of its latest software suite Cerillion 25.2 in October, the company noted a ‘significant’ increase in research and development.

Cerillion proposed a final dividend of 10.6 pence per share, up 15% from 9.2p a year ago. This brings the total dividend for the year to 15.4p per share, increasing 17% from 13.2p the year before.

Looking ahead, the company said it views its potential ‘very positively’.

The back-order book stood at £56.9 million at September 30, up 21% from £46.9 million a year ago. This was made up of £47.4 million of sales contracted but not yet recognised alongside £9.5 million of annualised support and maintenance revenue.

‘The back-order book, which is at a new high, continues to underpin revenue visibility, and the new customer sales pipeline, also at a record level, includes some very exciting and substantial opportunities, which are at varying stages of the discussion process,’ Cerillion said.

Chief Executive Louis Hall said: ‘Cerillion remains well-positioned and we enter the new financial year with a record back-order book and exciting prospects in the new business pipeline. The company’s very strong financial foundations support our growth plans and we view future prospects with great confidence.’

Shares in Cerillion rose 4.1% to 1,410.00 pence on Monday morning in London.

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