Cerillion experiences 'strongest ever' trading half

Software outfit Cerillion said on Monday that it had experienced its "strongest ever" six-month trading period in the half-year ended 31 March.

Cerillion said revenue for the period was expected to total approximately £12.8m, a 25% increase year-on-year, while adjusted underlying earnings were projected to be roughly £4.8m, a 77% rise on the comparative period last year.

The AIM-listed company also highlighted that its balance sheet remained "strong", with net cash at 31 March 2021 up 60% at approximately £7.7m.

Cerillion stated its "excellent performance" reflected three major factors - ongoing work on new customer implementation projects, strong demand from existing customers, and two major contract wins totalling £18.4m.

Looking forward, Cerillion said its sales pipeline was strong and that prospects for the remainder of the financial year were "very positive".

Chief executive Louis Hall said: "The business has performed very strongly over the first half, and new orders in the period have equalled total new orders for the whole of the last financial year. Our last contract win represented another major milestone for us, and reflects growing market recognition of the quality of our solution and services.

"We have a strong pipeline of potential new business and remain well-positioned for continuing growth this financial year and next."

As of 0905 BST, Cerillion shares were up 2.72% at 529.0p.