LONDON (Alliance News) - Craneware PLC said Friday said it is confident in meeting market expectations for its full year, as it continued to perform strongly in its first half.
The healthcare industry software company said that it expects to report a more than 10% rise in adjusted earnings before interest, tax, depreciation and amortisation for the half year to end-December, and a 7.0% rise in revenue, compared to the previous year.
The company also highlighted high levels of cash generation, leaving it with cash reserves of USD45 million, up from USD41.8 million in the first half of 2015, which along with its USD50 million funding facility, will be available to Craneware as it continues to investigation strategic opportunities.
"The group's strong financial position allows us to evaluate our options as we look to enhance and add solutions which support our customers in the new Value-based reimbursement environment," said Chief Executive Officer Keith Neilson in a statement.
"These factors combined with revenue recognition from contracted sales made in prior periods, gives management confidence in its ability to deliver increasing stakeholder value through this year and in the future," Neilson added.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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Craneware (CRW)