Cerillion PLC on Monday said annual revenue will be marginally ahead of market expectations, while adjusted profit will be materially ahead of the consensus market forecast of £10.1 million.

Cerillion reported £26.1 million in revenue and adjust pretax profit of £8.5 million in financial 2021.

Shares were up 8.7% at 1,130.00 pence each on Monday morning in London.

The London-based billing and customer relations management software said the financial year that ended September 30 benefited significantly from ‘favourable foreign exchange rates and higher resource utilisation, as well as lower net finance costs and lower depreciation and amortisation than anticipated’.

‘Cerillion entered the second half of the financial year with a strong back-order book and continued to trade very well throughout the period, including securing the company’s largest contract to date in the fourth quarter,’ Cerillion explained.

Net cash as at September 30 is believed to amount to about £20.0 million, ahead of expectations. This is compared to £13.2 million on the same date a year ago.

The company back in May said revenue increased by 26% to £12.8 million in the half-year that ended on March 31, from £10.2 million the year before. Pretax profit more than doubled to £3.3 million from £1.2 million year-on-year.

Cerillion said it will publish its full-year results in late November.

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