LONDON (ShareCast) - (Sharecast News) - Billing and customer management software company Cerillion reported a "record six months" in an update on Tuesday, setting new company records for both revenue and adjusted EBITDA.
The AIM-traded firm said revenue for the six months ended 31 March was expected to be 26% higher year-on-year at £16.1m, and adjusted EBITDA was set to be 48% firmer at £7.1m.

Net cash as at 31 March was up 114% at £16.5m.

Cerillion said its sales pipeline was "strong", underpinning its confidence that trading for the full year would be in line with its expectations.

The company said the "excellent performance" in the first half reflected ongoing work on new customer implementation projects, as well as strong demand from existing customers, against a wider back-drop of continuing strength in demand for telecoms services and substantial ongoing investment in 5G and fibre rollouts.

Cerillion said it continued to add further resources to support the "strong momentum" in the business, with its new skill centre in Bulgaria growing as planned.

In addition, in the period it completed 'Cerillion 22.1' - the latest version of its enterprise OSS and BSS suite for fixed, mobile, cable and multi-service operators.

The new version would be released "shortly", providing customers with further business-to-business capabilities as well as launching a new set of software-as-a-service (SaaS) editions to address new telecoms market segments with "out-of-the-box" solutions.

"The business has delivered a record performance for any six-month period, driven by our backlog of new customer implementations and strong demand from existing customers," said chief executive officer Louis Hall.

"The market backdrop remains highly favourable for Cerillion.

"With a strong pipeline of new business, we remain well-placed for continuing growth this financial year and next."

Cerillion said it would announce its interim results for the six months ended 31 March in mid-May.

At 1113 BST, shares in Cerillion were up 4.9% at 802.5p.

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