Cerillion posts record revenue as it cashes in on surging 5G boom
Software giant Cerillion posts record revenue as demand for continues to surge thanks to a 5G boom and digitisation.
The British firm said revenue climbed 26 per cent to a record £32.7m, driven by major new customer implementations and strong demand from existing customers
Back-order book reached a new high of £45.4m at the year-end for Cerillion, up from £42.1m last year, while new customer sales pipeline climbed 43 per cent to a record £209m.
The year was bolstered by big customer wins, including the largest ever contract won in July 2022 (£15m), with Cable & Wireless Seychelles (CWS), a full-service network operator.
“We start the new financial year with a very high degree of visibility over our earnings, based on our very strong back-order book and higher level of recurring income. The new business pipeline is very strong and includes a number of large potential deals,” CEO of Cerillion Louis Hall said.
“The market backdrop remains extremely favourable. The roll-out of 5G and digitisation, and the need to be able to react rapidly to changing market conditions, means that telecom companies continue to drive investment in enterprise software. These tailwinds should help to support Cerillion’s continued expansion over the longer term.”
Shares are up 27 per cent in the year to date for the London-listed firm.