Cerillion Share Price Rose 1.9% on Upbeat Full-Year Fiscal Results

The Cerillion PLC (LON: CER) share price rose 1.91% after releasing its final results for the year ended 30 September 2023. The company recorded a 20% increase in its annual revenues, which rose to £39.2 million compared to last year’s £32.7 million.

Significant new customer implementations, substantial license revenue, and robust customer demand primarily drove the revenue growth. The annualised recurring revenue also demonstrated substantial growth, surging by 19% to £14.8 million compared to £12.4 million in 2022.

Cerillion is a billing, charging, and customer management systems provider based in the UK. The company noted that its back-order book remained strong, standing at £45.4 million at the end of the financial year (compared to £45.4 million on September 30, 2022). 

Following the recent contract win worth €12.4 million, an additional boost was seen with a new European Tier-1 customer, taking the back-order book to a record high of £52.5 million.

The new customer sales pipeline exhibited significant growth, rising by 16% to a record £243 million as of September 30, 2023, compared to £209 million on September 30, 2022. The company maintained a robust balance sheet, with net cash increasing by 22% to £24.7 million, up from £20.2 million as of September 30, 2022.

Cerillion proposes a final dividend of 8.0p per share, marking an increase from 6.5p in 2022. This brings the total dividend for the year to 11.3p per share, a 24% increase from the previous year.

The company reported record orders of £30.8 million from existing customers, representing an impressive 85% year-on-year increase.

Louis Hall, Cerillion plc's CEO, commented: “It has been another year of strong growth and development. Revenue, pre-tax profit, and the new customer sales pipeline all reached new highs. Record orders to existing customers – some 79% of total revenue for the year – shows the importance of our existing customer base, and the recent closure of a €12.4m deal with a Tier-1 telco is another demonstration of our widening market appeal. We continued to invest in our product set, introducing AI for the first time, and also expanded our resource base, particularly at our newer centres in Ahmedabad, Indore and Sofia.”

Cerillion share price. 

The Cerillion share price rose 1.91% to trade at 1330.00p from Friday’s closing price of 1305.00p.