Software group Craneware eyes healthy jump in revenues

Software developer Craneware is on track to deliver a 16 per cent rise in annual revenues amid rising demand for its services.

Craneware co-founder and chief executive Keith Neilson. Picture: Neil Hanna
Craneware co-founder and chief executive Keith Neilson. Picture: Neil Hanna

The firm, which is based at Tanfield in Edinburgh and specialises in billing software for the US healthcare market, told investors that revenues for the year to the end of June would come in at $57.8 million (£45m), up from $49.8m the previous year.

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In a trading update, the company added that annual underlying pre-tax profits would grow to $18m, compared with $15.9m last time.

Craneware, which is quoted on London’s Alternative Investment Market, has also launched its first product on its new Trisus cloud-based platform, which it said enables hospitals and healthcare systems to “drive revenue growth and increase compliance by automating claims review”.

Chief executive and co-founder Keith Neilson said: “The need to drive value in healthcare, and the challenges this brings, remains a universal topic of focus. We believe the innovation in Trisus positions us firmly at the forefront of an expanding market.”

Craneware is due to post its full-year results on 5 September.