Craneware upbeat after record contract haul

SOFTWARE firm Craneware today said its annual sales and profits will be higher than last year after securing record contract levels.

Craneware chief executive Keith Neilson. Picture: Neil Hanna

The Edinburgh-based firm, which specialises in billing software for US hospitals, signed contracts worth $72.5 million (£46.4m) in the year to 30 June, up from $71m a year earlier.

Although the Aim-quoted company said “the vast majority” of revenues from the deals will benefit future years, it still expects to deliver sales of between $44.5m and $45m for the year, up from $42.6m last time.

Adjusted earnings before interest, tax, depreciation and amortisation are forecast in the range of $14m to $14.5m, compared with $13.1m a year ago.

Chief executive Keith Neilson said: “We are delighted with the continued level of strong sales throughout the period that underpin the group’s financial and operational performance.

“We believe this continues to demonstrate our solutions’ importance in supporting US hospitals as they transition towards value-based healthcare.”

Craneware’s full-year results are due on 8 September.