Cerillion (LON:CER) said it expects revenue and adjusted EBITDA for the financial year to be slightly ahead of current market expectations.
The billing and customer relationship management software provider said trading in 2H20 from the group’s the financial year ending 30 September 2020 had ‘continued strongly’.
An upgraded outlook comes as the company recently signed its largest ever contract in mid-September which helped it take its back-order book to a record high for the financial year.
Cerillion signed the £11.2m agreement, its largest ever contract, with a major UK provider of enterprise connectivity solutions for the supply of the group’s CRM and billing solution.
Shares in Cerillion have increased 60% in value since April 2020 and opened this morning 2.29% higher at 313p following the announcement.
Cerillion detailed that its Enterprise BSS/OSS* Suite will be delivered in a private cloud to support the full 'lead-to-cash' process for a wide range of unified communications services.
Today, the group also highlighted to investors that group net cash by 30 September 2020 is also expected to be ‘significantly ahead of market expectations’ at approximately £7.7m.
The Company believes that it is ‘well-positioned’ as it enters the new financial year.
It said new business pipeline ‘remains strong, with opportunities across all regions’, and that to date, the coronavirus pandemic ‘has not affected the Company's sales processes, implementations or ability to support its customer base to any significant degree.’
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