Cerillion shares tumble after warning on earnings as buyer orders slip

Cerillion warned that its full-year outcomes would fall in need of market expectations, as delayed buyer orders held again the billing software program firm.

The firm now expects earnings of £46m to £48m for the 12 months to 30 September, beneath the £52.8m analysts had forecast, with adjusted EBITDA margin at 43% to 45%, down from 50.9% a 12 months earlier.

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Cerillion shares have been down greater than 20% on the open on Monday.

Although the second half can be considerably stronger than the primary, because it had flagged at its interim outcomes, the corporate stated the 12 months would now are available in behind consensus.

Cerillion blamed the shortfall on delays or deferrals in some new and present buyer orders, together with software program licence expansions and upgrades.

It stated its main implementation initiatives have been progressing, with work nearing completion at UCom and software program set up completed at Omantel, and that its back-order e book and new buyer pipeline remained sturdy.