Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Craneware shares advance on positive sales update

Craneware shares rose some 13% in Tuesday morning's trade following a trading update
healthcare professional
Strong sales and renewals have boosted the group

Craneware Plc (LON:CRW) shares advanced after a trading update highlighted what the company described as a “continued outstanding performance”.

“There has been strong underlying new sales growth that increased by approximately 100%,” the company said.

The performance was supported by a significant new contract signed at the end of the year with a large healthcare provider network in the Eastern United States.

READ: Craneware delivers double boost

Craneware added that renewals, when stated by dollar value, have continued at over 100% with the majority of revenue from both new and renewal sales successes to be recognised over future reporting periods.

It said it expects to report a 16% increase in revenue and a 20% increase in earnings (adjusted EBITDA), extending the organic double digit growth seen in previous years.

"These record results demonstrate the ongoing momentum we are seeing across all strata of hospitals including large and complex health systems as they embrace the realities of value-based economics within healthcare,” said Keith Neilson, Craneware chief executive.

He added: “We are playing an increasingly strategic role in assisting healthcare providers to deliver better healthcare through sustainable financial performance, whilst mitigating operational and compliance risks.

"These factors combined with our financial strength and high levels of visible revenue for future years, gives management confidence in its continuing ability to deliver increasing stakeholder value year on year whilst investing in our future."

Craneware shares rose 281p or 13% to trade at 2,413p each.

View full CRW profile View Profile

Craneware plc Timeline

February 02 2016
March 11 2014
January 21 2013
November 08 2012
February 28 2012

Related Articles

July 23 2018
The company has developed software used by the life sciences industry to collate and transmit data
Virtual Reality headset
May 02 2018
The integration of the group's Apollo 11 experience into the Oculus Go launch package has seen its share price rocket up over 40%
mobile phone user
“We want to be in situation where we are processing the lion’s share of the biggest merchants’ digital business to mobile users”

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use