Cerillion revenues rise

Cerillion, the billing, charging and customer relationship management software solutions provider, reports encouraging results following its admission to AIM and confirms a follow-on contract worth US$2.8m.

Annualised revenue for the year to the end of September was up by 6% to £14.8m (2015: £14.0m) with software revenue up by 21% to £5.3m and services revenue up by 1% to £8.7m.

Annualised recurring revenue rose by 6% to £4.1m - c. 27% of total revenue

Other highlights:

- Back order book stood at £9.3m (2015: £11.0m)

- Annualised EBITDA up by 7% to £3.1m (2015: £2.9m)

- Annualised adjusted profit before tax up by 4% to £2.3m (2015: £2.2m)

- Adjusted earnings per share of 6.8p5

- Proposed final dividend of 2.6p per share, bringing the total dividend for the year to 3.9p per share (2015: nil)

Chief executive Louis Hall said: "I am pleased to present our maiden full year results following the Company's successful admission to AIM in March 2016. Cerillion made pleasing progress over the period, delivering encouraging profit growth, in line with management expectations.

"We secured significant new orders in the period and a further three customers went live with our new Convergent Charging System, which continues to drive our pipeline. We also made encouraging progress with our new Software-as-a-Service billing product, Skyline, which is opening up new markets to us.

"Today, we are pleased to announce a $2.8m follow-on contract with an existing customer in the Americas. This represents the second phase of a $4.1m licence expansion and services contract, the first $1.3m of which relates to services and was closed prior to year-end. Looking ahead, the Board continues to view prospects very positively."