Craneware’s static revenues pull down shares

AIM-listed healthcare software provider Craneware (LON:CRW) watched its share price fall by 2.06% to 1,900p (as of 13:30 GMT) as it posted flat revenues for the half year ended 31st December. Pre-tax profits for the six months were up by 3% but the loss of a major client balanced out sales growth elsewhere in the business.

CEO Keith Neilson commented: “We are pleased to report on a positive sales performance in the first half of the financial year, with new sales over 30% ahead of the first half in the prior year, reflecting the considerable amount of activity that has taken place across the business since the summer. Whilst this increase will take time to flow through into our reported financials, we are confident that momentum is now back in the business and the size of the opportunity ahead of us remains intact.

“Importantly, the level of Trisus sales grew in the half, with sales of all four of our current Trisus solutions and the pipeline for these products increasing. The transition of our existing product suite onto the Trisus platform is progressing and paves the way for long-term growth, as we provide our customers with the data-driven solutions they require to address the move to value-based care.

“The positive sales performance in the first half has continued to date, and our pipeline continues to grow, underpinned by the o ngoing transition of the US healthcare market to value-based care. The Board’s expectations for the full year remain unchanged and we look forward to a return to increased rates of growth in future years. We are focused on execution and with strong operating margins, healthy cash balances and a growing sales pipeline, we continue to be excited by the opportunity ahead“.