Craneware’s sales update causes market indigestion

The price of shares in AIM-listed healthcare service provider Craneware (LON:CRW) has plunged by 34.73% to 1,919p (as of 15:00 BST) after it revealed that sales during the last six months have not met expectations. Management believe that this is due to the market needing time to digest a raft of recent product launches. Revenue growth for the year ending 30th June is now forecast to be in the region of 6%.

CEO Keith Neilson commented: “As we close our financial year, we continue to look to the future with high levels of confidence despite our short-term sales performance in the latter part of the year. We have a significant and growing pipeline, which we are focused on converting. As a board we are convinced that our strategy with the Trisus platform differentiates us from other healthcare solutions vendors, providing substantial benefits for our customers and will meaningfully impact the value of healthcare as a whole. This, as we have demonstrated, will result in substantial improvements to the financial effectiveness of US Hospital Provider Customers and therefore significant financial wins for Craneware in the future.

“This strategy, our financial strength and high levels of revenue visibility for future years combine to give the board confidence in Craneware’s future“.