Craneware PLC (AIM:CRW), the data and insight solutions company to the US healthcare market, saw its shares tumble 10% to 1,725p on the back of a gloomy outlook for its professional healthcare services arm.
Revenues from this arm of the business in the six months to 31 December “have remained at 8% of total revenues,” as opposed to seeing growth to historical levels of around 15%.
Looking ahead, Craneware, which offers its services to roughly 40% of US hospitals, expects earnings contributions from its professional services business to remain flat and impact total revenues.
Craneware still expects first-half revenues to increase by roughly 6% to US$84.7mln, and underlying profits [adjusted EBITDA ] to grow by 8% to US$25.5mln.
"Healthcare providers, both globally and in the US, continue to face many challenges, building back post-pandemic and coping with inflationary pressures,” said chief executive Keith Nelson.
“Against this backdrop, we have delivered another robust performance, growing revenues and adjusted EBITDA, while maintaining a strong balance sheet and high levels of recurring revenue.”