US demand fuels healthy rise in profits at Craneware

By GARETH MACKIE
Published on 21/01/2013 07:59

Craneware, the Edinburgh-based software firm, today said it expects to deliver a 15 per cent rise in half-year profits, boosted by increased sales from the US healthcare sector.

The company, which specialises in billing software for hospitals, said revenues for the six months to 31 December are expected to rise to $20.1 million (£12.7m), up from $18.8m for the same period a year earlier.

As a result, underlying pre-tax profits are forecast to grow by about 15 per cent compared with the $4.65m it reported for the first half of 2012.

Chief executive Keith Neilson said: “Fiscal and regulatory pressures on US hospitals, including the recently announced expansion of the Medicare Recovery Audit Contractor Program, continues to drive interest in our suite of software solutions and we are confident in the ongoing strength of our position within this growing area of the US healthcare market.”

Craneware, which was founded in 1999, is due to publish its first-half results on 26 February.