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Cerillion adjusted annual profits up as recurring revenue rises

Monday, 26th November 2018
Software solutions provider Cerillion said Monday annual adjusted pre-tax profits rose modestly amid a double-digit percentage growth in recurring revenues.

For the 12 months ended 30 September, statutory profit before tax fell to £1.8m from £2.0m and and revenue rose 8.2% to £17.4m.

Adjusted pre-tax profit, which excluded one-off costs of property and the first year of share option charges rose by 3.4% to £3.1m.

Recurring revenue increased by 13.0% to £5.0m.

The company proposed a final dividend of 3.0p a share, bringing the total dividend for the year to 4.5p a share, up 7.1% on last year.

'Cerillion has continued to make good progress, with revenues and profits for the year growing in line with market expectations, said Louis Hall, CEO of Cerillion.

'Three large enterprise customer implementations for our core product remain underway, with completion scheduled in 2019. We also started pilot work for a potential fourth, new enterprise customer in the final quarter of the financial year, and there are two further potential large orders, which are likely to be decided over the coming months.'

"With a strong new customer pipeline, the ability to continue to rollout new and enhanced product modules, and continuing recognition by industry analysts, we believe the Company is well placed for continuing positive progress.'

At 9:49am: (LON:CER) Cerillion Plc share price was +4p at 149p

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