|
Craneware PLC on Monday said it delivered a ‘healthy first half performance’ as it revealed an expectation of a sustained demand environment for its services. Craneware is an Edinburgh, Scotland-based provider of software solutions focused on the US healthcare industry. The firm reported that revenue increased by approximately 10% in the six months to December 31 to over $100 million, compared with $91.2 million the prior year, as the firm benefitted from continued sales momentum. Its shares rose 4.6% to 2,150.00 pence on Monday morning in London. The AIM-listed firm cited the continued success of the Trisus platform partner offerings over the period, coupled with its first major contract secured through the Microsoft Corp’s Azure marketplace, as contributors to sales growth. Annual recurring revenue grew by approximately 3.3% to $177 million from $171.4 million the year before. Adjusted earnings before interest, tax, depreciation and amortisation also increased, up 10% on-year to $30.3 million from $27.5 million. Craneware noted that it ‘continues to trade in line with current market expectations for the year ending June 30 2025’. The firm said it is looking to the future with confidence, adding that a combination of its strong balance sheet, high levels of recurring revenue and strong cash generation will allow it to ‘fully absorb the impact of national insurance increases’ in the UK, following the hikes announced in the October budget. Craneware also said it expects a sustained level of demand for its offerings as US hospitals are experiencing a period of stability and investment in growth following the US election. The firm expects to report its interim results on March 11 and said it has appointed Susan Nelson, chief financial officer at MedStar Health Inc, as a non-executive director effective Thursday. Craneware Chief Executive Keith Neilson said: ‘We are pleased to have delivered another healthy first half performance, demonstrating our continued progression to sustainable double-digit growth, as customers increase their use of our Trisus platform and platform partner offerings. ‘With our prior sales successes now converting into ARR growth, continued strong cash generation and an increasingly strategic position as a powerful source of independent data and insights at the heart of the US healthcare market, we look to the future with confidence.’ Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
