Craneware shares fall despite ‘strong’ first half

Shares of Edinburgh-based Craneware, a software firm that specializes in US healthcare, fell almost 6% on Tuesday despite the company reporting its first-half revenue increased 15% to $35.8 million and profit before tax rose 7% to $9.3 million.

Proposed interim dividend will rise 10% to 11p and Craneware said it has a strong sales pipeline for the current financial year.

Craneware CEO Keith Neilson said: “We are delighted to report another strong set of results, delivering against our growth strategy. 

“The strength of our trading performance to date and double-digit rate of growth demonstrate the ongoing momentum we are experiencing in the business and the growing market opportunity we see.

“As we enter the second half of the financial year we do so with excitement as we continue to build the business in line with the large market opportunity available to us.

“We believe that the breadth of our customer base and the quantity and quality of data within our solutions gives us the opportunity to sit at the heart of the move to value-based economics; collating and analysing the information that will support hospital-wide decision making and ultimately have a positive impact on the quality of healthcare.

“Our growing market opportunity, the strength of our sales pipeline and increasing long-term revenue visibility, mean we enter the second half of the financial year with great confidence for the future and the ongoing success of Craneware.”