|
Craneware PLC on Wednesday said annual profit will exceed market expectations, supported by double-digit growth in revenue and strong momentum in recurring software sales. Shares in Craneware were up 9.8% at 2,471.00 pence in London on Wednesday morning. The Edinburgh, Scotland-based software solutions provider expects adjusted earnings before interest, tax, depreciation and amortisation to rise 12% to more than $65 million for the year to June 30, up from $58.3 million the year before. Revenue is set to grow 8.7% to $205.7 million from $189.3 million, while annual recurring revenue is expected to increase by 7% to $184 million. Net revenue retention improved to 107% from 98%, indicating stronger customer loyalty and up-selling, Craneware said. Shelter software, part of Craneware’s 340B drug discount programme tools, has a strong order backlog heading into the new financial year. This platform is helping to convert one-off revenue into recurring sales and supports future visibility, the company said. Chief Executive Officer Keith Neilson is ‘pleased to see our growth rates accelerating and profitability exceed expectations’, noting that Craneware’s Trisus software platform and partnership with Microsoft Corp have helped raise its profile with hospital chief information officers across the US. ‘Continued strong cash generation, and a strategic position as a source of independent data and insights at the heart of the US healthcare market, provide a solid foundation for growth,’ Neilson added. Bank debt was reduced to $27.7 million at June 30 from $35.4 million a year before, while total cash reserves grew to $55.9 million from $34.6 million. Looking ahead, Craneware said it expects accelerated revenue growth in financial 2026, citing expansion in AI-powered offerings, growing uptake of its Shelter software, and increased activity from third-party partnerships on the Trisus platform. Full results for the year that ended June 30 will be released on September 15. Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
