LONDON (ShareCast) - (Sharecast News) - Analysts at Berenberg raised their target price on software firm Cerillion from 1,400.0p to 1,500.0p on Monday on the back of the group's "record year".
Revenues came to £39.2m, with growth in the period driven by record orders of £30.8m from existing customers, while adjusted underlying earnings printed at £18.1m, which represents a margin of 46.2%, and adjusted pre-tax profits were £16.8m, 8% higher than consensus estimates.

Cerillion's new customer sales pipeline grew by 16% to £243.0m and its back-order book was at £52.5m as of November following recent new contract wins - both of which were record figures.

The German bank increased its FY24 adjusted EBITDA and earnings per share forecasts by 4% and 7%, respectively, and noted the shares were trading on a 28.6x FY24E price-to-earnings ratio.

"Cerillion continues to deliver consistent organic upgrades, supported by record demand and a high proportion of revenue visibility driven by its record back-order book," said Berenberg.







Reporting by Iain Gilbert at Sharecast.com

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE