Cerillion revenues on track to hit £7.5 million, shares up

Software solutions company Cerillion (LON:CER) saw shares rise on Monday morning, after a trading update showed progress in line with management expectations for 2016.

Cerillion are expected to report revenues of around £7.5 million for the 2016 financial year, up from £6.9 million in 2015. EBITDA is expected to increase by 36 percent to £1.5 million.

Louis Hall, Chief Executive Officer of Cerillion, said, “We are pleased with the progress Cerillion has made in the first half, which has included some important new contract wins, and look forward to providing an update on trading when we present our interim results in June.”

Cerillion is a leading provider of mission critical software for billing, charging and CRM, with a 16 year track record in providing comprehensive revenue and customer management solutions. The Company has 75 customer installations across 40 countries, principally serving the telecommunications market but also utilities and financial services.

In March the company announced the win of a new €2.4 million contract with a wholesale telecoms provider in Europe, achieving £13.2 million in new sales in the 2016 financial year on the back of the deal.

The company has started trading on London’s AIM market just over a year ago, securing several new contract wins and seeing its share price rise significantly over the period. In December it announced it had secured a €3.3 million contract with a new customer in Europe, a month after saying it had signed a US $2.8 million deal in the US.

Cerillion (LON:CER) are currently trading up 2.10 percent at 136.30 (1110GMT).