Cerillion FY profits seen 'comfortably ahead' of expectations

21st Oct 2024 12:38

(Sharecast News) - Software group Cerillion said on Monday that full-year adjusted pre-tax profits would be "comfortably ahead" of consensus estimates thanks to record new orders.

Cerillion said revenue for the year was expected to be approximately £43.8m, up from £39.2m, while adjusted pre-tax profits were forecast to be greater than market forecasts of £17.9m.

The AIM-listed group said total new orders signed were "significantly greater" than in any previous year, reflecting new customer wins as well as the growing value of its installed base. It also noted the full benefit of these new orders was still to come through.

Cerillion added that its balance sheet remains strong, with net cash at the financial year-end increasing to £29.8m, up from £24.7m a year earlier.

"The company has entered the new financial year with a robust back-order book and a strong sales pipeline, which includes some large opportunities. The board continues to view growth prospects very positively," concluded Cerillion.

As of 1235 BST, Cerillion shares were up 2.31% at 1,770.0p.

Reporting by Iain Gilbert at Sharecast.com