Craneware buoyed by record full-year sales

Software company Craneware today said it enjoyed record sales last year, with the value of contracts signed rising more than 80 per cent to $70 million (£41m).

The Edinburgh-based firm, which specialises in billing software for US hospitals, said the “vast majority” of the deals will benefit future years, so revenues for the year to 30 June will come in at between $42.2m and $43m – that compares with $41.5m a year earlier.

In today’s trading update, the group also predicted that adjusted earnings before interest tax, depreciation and amortisation would rise from $12.4m last time to between $12.8m and $13.2m.

Chief executive Keith Neilson said: “The current sales success gives Craneware certainty over contracted revenue and associated profits upon which to build future growth.”

The firm is due to announce its full-year results on 16 September.