Craneware revenues up on US healthcare cost pressures

UK-listed but US-focused healthcare software provider Craneware is benefiting from the cost pressures on American hospitals.

The company, which provides monitoring and automated revenue systems, has reported revenues of $41.1m in the 12 months to the end of June, a rise of 8% on the prior year.

Adjusted profits before tax came in at $10.8m, a 16% gain on the previous year, while the total dividend for the year has been announced at 10.5p per share, versus 8.8p in 2011.

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Craneware's Chief Executive, Keith Neilson, said of the results: "Added pressures on US hospitals have led to an increased sales and opportunity pipeline for our products as we move into the current financial year.

"In this turbulent, demanding environment, hospitals need financial accuracy, visibility and shared accountability to survive. Fiscal and regulatory drivers are expected to increase in the year ahead as they push for greater transparency and accuracy, and although this creates a challenging ever-evolving marketplace, it ultimately increases the opportunities for Craneware's solutions."

The market was impressed with the numbers: the stock was up 7.6% at 10:08.

BS