LONDON (Alliance News) - Craneware PLC Tuesday expressed confidence for its future and sweetened its dividend for its recently ended financial year, as it reported a rise in pretax profit, driven by continued sales to all segments of the US healthcare market.
The healthcare software and services company proposed a final dividend of 7.7 pence, taking its total dividend for the year to 14.0 pence, up 12% from 12.5 pence a year before.
For the year to end-June Craneware reported a pretax profit of USD12.5 million, up from USD11.3 million a year before, as revenue rose to USD44.8 million from USD42.6 million.
The company said its total contract value in the year was USD72.9 million, increased from USD71.0 million a year before. Craneware's revenue recognition policy means that the vast majority of revenue from these sales was not recognised in the recently ended financial year, but will instead "benefit future years."
Craneware highlighted a a new "value-driven" healthcare market in the US, and noted that its product suite - Craneware's software-as-a-service products focus on revenue collection - is "ideally positioned to support the market in this evolution."
Following the year end the company acquired Kestros Ltd, which is now trading as Craneware Health, for USD2.1 million. It said that the assets and intellectual property it acquired with Kestros will provide it with a technology platform in the Patient Access market.
"This year has seen Craneware continue its record level of sales, but perhaps more importantly has seen the anticipated emergence of a high growth financial analytics and performance market," said Chief Executive Officer Keith Nelson in a statement.
Shares in Craneware were up 3.1% at 649.50 pence Tuesday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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Craneware (CRW)