Cerillion enters H2 with record level of new orders

Software solutions firm Cerillion said on Monday that it had entered the second half of the financial year with a record level of new orders and back order book.

Cerillion stated new orders included two of the largest contracts it had secured to date and said the implementation of both orders was "progressing well".

As a result of continued "strong trading", Cerillion said revenue for the full year was now expected to be "slightly ahead of current consensus market forecasts".

However, as a result of a higher proportion of term licence sales than anticipated, the AIM-listed firm cautioned that adjusted pre-tax profits were now expected to be "significantly higher" than expectations.

Net cash at 30 September was also anticipated to close very strongly, ahead of projections, at approximately £13.0m.

"The company has a strong pipeline of new business opportunities from both existing and prospective new customers and remains well-positioned as it enters the new financial year," said Cerillion.

"The opening of a new office in Bulgaria in September 2021 will support the company's continuing growth and is expected to expand quickly to become a new strategic base."

As of 1110 BST, Cerillion shares were up 7.01% at 840.0p.