Cerillion, an AIM-listed billing and CRM provider, has reported significant growth for the financial year ending 30 September 2024. Revenues rose by 12% to £43.8 million, while statutory profit increased by 22%, reaching £19.7 million. These figures mark another successful year of double-digit growth for the London-headquartered company, which has expanded its operations globally.
Originally formed from a management buyout of Logica in 1999, Cerillion now operates in India and Bulgaria, with sales offices in the United States, Singapore, and Australia. Since joining AIM in March 2016, the company has steadily grown its presence and impact in the telecoms sector. Key milestones in FY24 included the signing of two major agreements: a €12.4 million (£10.3 million) deal with Virgin Media Ireland in November 2023 and an $11.1 million (£8.3 million) contract with a connectivity provider in Southern Africa in May 2024.
The company’s strategic shift to a subscription-based pricing model continues to yield results, with recurring revenue increasing by 11% to £15.5 million. This approach has bolstered financial stability and aligns with evolving market demands. While global investment may have slowed in some areas, the need for enterprise software connecting telecom operators to network infrastructure remains critical. Cerillion’s solutions enable clients to monetise their networks, improve efficiency, enhance customer experience, and drive revenue growth.
With favourable trading conditions and a record-high pipeline of opportunities, including larger prospects, Cerillion is well-positioned for further expansion in FY25 and beyond. The company’s ability to adapt to market trends and capitalise on opportunities within the telecom sector underscores its potential for sustained success.
Cerillion’s latest financial results and strategic moves highlight a robust foundation for continued growth, ensuring its relevance and strength in the competitive telecom software market.
Cerillion plc (LON:CER) is a leading provider of billing, charging and customer management systems with more than 20 years’ experience delivering its solutions across a broad range of industries including the telecommunications, finance, utilities and transportation sectors.
