Craneware posts jump in H1 revenue and profit

AIM-listed Craneware reported a rise in half-year revenue and profit and said it was well positioned for future growth.

In the six months to the end of December, revenue grew 16% to $26.8m, with adjusted earnings before interest, taxes, depreciation and amortisation up 16% to $8.2m.

Meanwhile, pre-tax profit rose to $7.5m from $6.1m in the first half of 2016, with adjusted basic earnings per share up 15% to 21.6 cents.

The company, which specialises in software for healthcare billing, proposed an interim dividend of 8.7p per share, up from 7.5p.

Chief executive officer Keith Neilson said: "The first half of the year has been a period of successful execution against our stated growth strategy, delivering accelerated growth at both the revenue and adjusted EBITDA level. During the period we have taken significant strides forward in terms of delivering our expanded product suite, educating our market place and also further investing in our people. These ongoing achievements mean we are well positioned to deliver against a market opportunity that is now considerably larger than at any other point in our history.

"Against a backdrop of the recent US Presidential election, the overriding consensus for the need to drive value in US Healthcare has been re-affirmed. There is ongoing support for the move to value-based care and increasing consumerism. Our Value Cycle software suite will continue to help US healthcare providers meet the challenges they will face as they navigate the ongoing re-imbursement model changes.

At 1100 GMT, the shares were flat at 1,183p.