Tech outfit hails solid sales jump

Healthcare software specialist Craneware said it was in a “stronger position than ever” as it unveiled a 10 per cent rise in annual profits.

The Edinburgh-based firm, which develops billing software for the US hospitals sector, posted a pre-tax profit of $13.9 million (£10.4m) for the 12 months to the end of June, up from $12.5m a year earlier, on revenues 11 per cent higher at $49.8m.

Chief executive Keith Neilson said the figures represented the Aim-quoted company’s third consecutive year of record sales performance, boosted by a 63 per cent surge in new sales. He highlighted two “significant” five-year contract wins during the year, worth a combined $15.5m.

Neilson told The Scotsman: “Even if you strip those contracts out, we still had a very good year for sales.” With just two months to go before the US presidential election, Neilson said both Hillary Clintonanddonaldtrumphad made it clear they want to see value for money in the healthcare system, “and anything that drives towards that has got to be a good thing”.

Craneware employs about 250 people, of whom 120 are based at its Tanfield headquarters in Edinburgh. Next year will mark the tenth anniversary of its flotation on Aim.

The board proposed a final dividend of 9p a share, to be paid on 8 December, giving a total payout for the year of 16.5p – up from 14p last time.