Craneware ups divi as revenue rises 6% to $75m

Edinburgh-based Craneware, a provider of software for the US healthcare market, said on Tuesday its revenue for the year to June 30, 2021, rose 6% to $75.6 million but its profit before tax fell to $13.2 million from $19.3 million “reflecting exceptional costs associated with acquisition funding.”

Craneware is proposing a final dividend increase to 15.5p, giving a total dividend for the year of 27.5p per share, up 4%.

Craneware shares edged about 2% higher to £23.40 to give the firm a current stock market value of about £825 million.

Craneware CEO Keith Neilson said: “Our team delivered a positive performance in the year, against the ongoing backdrop of the pandemic, supporting our customers through an incredibly challenging period while continuing to execute on our strategy.

“We experienced continued sales momentum and strong adoption of our Trisus cloud based platform, paving the way for accelerated future growth.

“The successful completion of the acquisition of Sentry Data Systems following the end of the year marks a transformational point in our journey, considerably expanding our customer base, data sets, product offering and market presence.

“Together, we will offer healthcare organisations innovative new ways to measurably improved operational and financial performance to generate sustainable margins that they can re-invest to provide better care for those underserved communities.  

“With a strong balance sheet, high levels of recurring revenues, high customer retention rates and visible revenue in the next three years of $471.2m, we have a strong financial foundation from which to accelerate growth and to fulfil our potential, thereby increasing future shareholder value.

“We have enjoyed early sales momentum across the now enlarged group and with our expanded opportunity we look to the future with considerable excitement and confidence as we work with the Sentry team to transform the business of US healthcare.”

About the Author

Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.