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

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

Related Articles

The glass facade of a high-rise building
June 11 2018
The analysts say the Canadian firm has a 'disruptive suite of solutions' for the real estate industry in North America
Network security
October 02 2018
The company was arguably late to change to a software-as-a-service model, but the change is beginning to take hold
Jobs market
October 02 2018
A flexible jobs market, an increase in short-term contracts - all play to the strengths of the specialist in background checks

© 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