Cerillion shares fall as expects lower interim revenue, earnings
Cerillion PLC on Wednesday said it expects to meet full-year market expectations, as it guided lower revenue and earnings for the first half of its financial year.
The London-based billing, charging and customer relationship management software company said it expects to report earnings before interest, tax, depreciation and amortisation of around £6.2 million for the six months to March 31, down 37% from £9.9 million a year prior.
Revenue is expected to come in at £18.0 million, down 14% from £20.9 million.
Cerillion said the performance reflects the timing of contracts, as well the fact that ‘very little high-margin software licence revenue was recognised in the first half’.
Shares in Cerillion were down 5.5% at 1,351.50 pence around midday on Wednesday in London.
Cerillion said it expects to report a stronger performance in its second half, with this underpinned by the expected unwinding of the ‘very strong’ back-order book.
The company noted that new orders at March 30 were £39.6 million, doubling from £19.6 million a year prior.
Looking to the full-year ending September 30, Cerillion said it is well positioned to meet market expectations, noting that its pipeline of new business opportunities remains strong.
Cerillion is scheduled to publish its interim results on June 1.
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