Edinburgh's Craneware returns to 'strong' sales growth after Covid blip

Craneware, the Edinburgh-headquartered software firm working mainly in the US healthcare market, has confirmed a return to “strong” sales in the past quarter.

Keith Neilson is the chief executive of Craneware, the Edinburgh-based software specialist. Picture: Neil Hanna

In a brief trading update, the capital firm said sales in its first quarter – covering the three months to the end of September – were ahead of the strong comparator period a year earlier.

Bosses said they were continuing to see “substantial new opportunities” entering the sales pipeline.

They added: “While cognisant of the ongoing pandemic, the board is confident in the continued resilient performance of the business and looks forward to providing a further update at the time of the AGM.”

The group said it would be staging its annual general meeting in Edinburgh on 17 November as a closed event. Shareholders have been invited to send any questions for the board via email.

Last month, Craneware said it was still mulling accelerated growth through potential merger and acquisition (M&A) activity after seeing annual sales remain flat on the back of coronavirus.

The firm said that in the year to 30 June, revenue came in at $71.5 million (£55.6m), from $71.4m in the prior 12 months. Total sales to 31 March were nearly a third up on the year-ago period, with the final quarter hampered by Covid-19.

Adjusted core earnings grew 5 per cent to $25.2m, while pre-tax profit stepped up by 5 per cent to reach $19.3m, with a proposed final dividend of 15p per share, the same as in the previous financial year. The firm hailed a “healthy” sales mix.

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