Monday 25 November 2019 12:43 pm

Software firm Cerillion posts record results thanks to booming telecoms demand

London-based software firm Cerillion today hailed a record set of full-year results after it secured a string of major new contracts amid growing demand.

Read more: London software firm Kape snaps up US cybersecurity company for $95m

Cerillion posted an eight per cent rise in revenue to £18.8m in the 12 months to the end of September, while pre-tax profit jumped 36 per cent to £2.4m.

The firm, which provides billing, charging and customer management systems, bagged a 78 per cent rise in new orders over the period to £23.3m, while its back-order book rose 69 per cent to £22m.

The Aim-listed company said it results were also boosted by four major contract wins, which it said marked a continuing trend towards higher-value contracts with larger customers.

Shares in Cerillion were up more than four per cent following the announcement.

“Industry trends in our core telecoms market mean that demand for our solutions remains strong and with recent sales success, a strong new customer pipeline, the ability to rollout new and enhanced product modules, and ongoing recognition by industry analysts, the company is very well placed for continued progress,” said chief executive Louis Hall.

Cerillion said demand for its products in the telecoms sector had been driven by the introduction of 5G, as well as regulatory changes such as the introduction of GDPR data laws in Europe.

Read more: NHS software delays cause headache for digital health firm Babylon

The firm hiked its dividend for the year nine per cent to 4.9p, and welcomed a “very healthy pipeline” of potential new business over the next financial year.