LONDON (Alliance News) - Craneware PLC on Tuesday said its sales momentum has continued into its new financial year and said it is optimistic on the coming year.
The software company said it has seen strong cash collection levels in the first quarter of its new financial year, starting in July, on the back of the accrued revenue balance from the guaranteed minimum revenue on contracts from last year being mostly cleared and strong sales in the new year.
The company has also completed the acquisition of technology company Kestros Ltd this year in a GBP1.25 million deal.
"We remain focused on the execution of our growth strategy and look forward to continuing to grow shareholder value in the year ahead," said Craneware Chief Executive Officer Keith Neilson.
Craneware shares were up 2.1% to 508.00 pence on Tuesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2014 Alliance News Limited. All Rights Reserved.
Craneware (CRW)