Craneware PLC - Edinburgh-based provider of software for the US healthcare market - Reports pretax profit of USD13.2 million in the 12 months ended June 30, down 32% from USD19.3 million the year prior. Revenue rises 6% year-on-year to USD75.6 million from USD71.5 million. Higher revenue offset by a 20% increase in operating expenses to GBP56.5 million from GBP47.2 million. Compares to revenue of USD71.4 million and pretax profit of USD18.3 million in financial 2019. Proposes a final dividend of 15.5 pence per share, up 3.3% from 15.0p.
Notes continued sales momentum across the enlarged group, including its recent acquisition of pharmacy procurement and compliance firm Sentry Data Systems Inc. Says the integration of Sentry is proceeding faster than initially expected. The company adds that it is "confident" of a return to double-digit organic growth in coming years.
Chief Executive Keith Neilson says: "We experienced continued sales momentum and strong adoption of our Trisus cloud based platform, paving the way for accelerated future growth...With a strong balance sheet, high levels of recurring revenues, high customer retention rates and visible revenue in the next three years of USD471.2 million, we have a strong financial foundation from which to accelerate growth and to fulfil our potential, thereby increasing future shareholder value."
Current stock price: 2,320.00p, up 0.9% on Tuesday
Year-to-date change: up 0.9%
By Scarlett Butler; scarlettbutler@alliancenews.com
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Craneware (CRW)