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LONDON (Alliance News) - Software company Craneware PLC on Wednesday said it is confident it will meet market expectations, as it said it expects to post a 10% rise in earnings for the first half on the back of a rise in contract values.
Craneware said it expects to report a rise of at least 10% in adjusted earnings before income, taxation, depreciation and amortisation for the first half to the end of December on the back of a modest rise in revenue, both in line with its expectations.
In the first half, Craneware said the total value of the contracts signed over the period rose 10% year-on-year, the majority of which will be recognised in future periods in line with its revenue recognition policies.
The company expects increased revenue recognition in the second half arising from contracts signed in previous periods and is confident it will meet market expectations for the year to the end of June 2015.
"The continuation of a strong sales performance, supporting ongoing growth, that increases in future periods, gives management confidence in its ability to deliver increasing stakeholder value through this year and in the future," said Craneware Chief Executive Officer Keith Neilson.
Craneware shares were untraded on Wednesday morning, having last traded at 492.00 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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