Cerillion shares rise after improved H1 profit, dividend

AIM-quoted Cerillion's shares rose more than 4% as investors reacted warmly to its first-half results, which saw revenue, profit and dividend all improve.

"We have made pleasing progress over the period, delivering increased profitability, in line with management expectations," said chief executive Louis Hall.

"Our core enterprise software business secured significant new orders, including two new customer wins, as well as a major follow-on contract with an existing customer.

"These new wins, combined with our back order book which stands at a record high, will help to underpin the Group's ongoing performance."

Hall added that, with ith a strong level of contracted sales in place, directors expected further progress over the second half.

They further believed that Cerillion was well positioned to meet its full-year expectations."

Revenue for the half year was up 10% to £7.5m, with interim dividend improving 8% to 1.4p a share, from 1.3p. Pre-tax profit rose to £924,615, from £703,474.

At 10:38 BST, shares in Cerillion were up 4.24% to 147.5p each.