StockMarketWire.com - Billing and customer management service provider Cerillion said annual profit rose by more than a third, led by revenue growth in its software division. For the year ended 30 September 2019, pre-tax profit rose 36% to £2.4m on-year, revenue 8% to £18.8m and adjusted earnings by 16% to £4.6m

The compared with expectations for revenue to rise 8% to about £18.7m, and adjusted earnings by 14% to about £4.5m.

Software revenue increased by 40% to £9.1m; services revenue decreased by 14% to £7.9m and third party income increased to £1.8m fro £1.7m.

Gross margin increased to 75% from 72%, due to an increase in weighting towards licence revenue.

Cerillion proposed a final dividend of 3.3p per share, taking the total dividend for the year to 4.9p per share.

'With record new orders, which has lifted the back-order book to a new high, Cerillion has a strong platform for further growth over the new financial year,' Cerillion said.

'Our focus over the coming year will be on successfully executing implementations as well as continuing to ensure that we convert further new business prospects. ' Story provided by StockMarketWire.com