Cerillion PLC on Monday said it expects to report lower earnings in the first half of its financial year due to delayed licence renewals, but it still expects to meet market expectations for the full year.
Cerillion is a London-based billing, charging and customer relationship management software solutions provider.
It expects to report revenue of £20.9 million in the six months to the end of March, down 7.1% from £22.5 million in the first half of the 2024 financial year.
The company said the lower revenue reflects the anticipated higher weighting of software licence renewals and extensions in the second half of the financial year, compared to financial 2024, when the majority of renewals and extension occurred in the first half.
Adjusted earnings before interest, tax, depreciation and amortisation is forecast at around £10.0 million for the first half, down 9.1% from £11.0 million a year ago.
Cerillion said its new-customer pipeline ‘remains very strong’ and is ‘a little ahead’ of 2024’s record level.
Net cash was around £31.0 million at March 31, up 17% from £26.6 million a year ago.
‘The company remains very well-placed to meet market expectations for the current financial year and beyond,’ Cerillion continued.
The firm said its performance was supported by a new contract win worth $11.4 million in January and a term renewal agreed in March worth £5.4 million with ‘a major European customer’.
Cerillion said a different ‘significant European customer’ has recently confirmed it plans to use Cerillion’s BSS/OSS software to support a recently acquired ‘substantial, tier-1 customer base’ in its home market.
‘The major migration programme is expected to benefit revenues in both the current and next financial year,’ Cerillion said.
Shares in Cerillion were down 2.6% to 1,266.50 pence in London on Monday morning.
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