Craneware sees 10% rise in first half earnings

(ShareCast News) - Craneware, which develops billing software for the US healthcare market, said a strong first half performance would lead to a 10% rise in earnings and 7% increase in revenues.It added that it should meet full year expectations.Ongoing sales success had delivered an increase of 15% in the value of 'new sales' contracts signed in the six month period ended 31 December 2015 compared to the same period last year and renewals by dollar value in the period had continued at more than 100%, Craneware said.Craneware said high levels of cash generation had resulted in cash reserves of $45m against $41.8m last time. The company has also secured a funding facility from the Bank of Scotland of up to $50m.