3rd Sep 2024 10:15
(Alliance News) - Craneware PLC on Tuesday promised another positive year after delivering full-year results ahead of expectations.
The Edinburgh-based provider of software solutions said the results reflected investments made over recent years coming to fruition, and demonstrated the strength of the Trisus platform.
In the financial year that ended June 30, pretax profit increased 20% to USD15.7 million from USD13.1 million a year prior.
Adjusted earnings before interest, tax, deprecation and amortisation rose 6.2% to USD58.3 million from USD54.9 million, ahead of previous guidance of USD58 million.
Revenue rose 8.8% to USD189.3 million from USD174.0 million, compared with previous guidance of at least USD188 million.
Annual recurring revenue increased 1.8% to USD172.0 million from USD169.0 million.
Basic earnings per share climbed 27% to 33.5 US cents from 26.3 cents before, as did diluted EPS to 33.2 cents from 26.1 cents.
Craneware highlighted a strong sales performance, driven by positive market response to Trisus optimization suites and the success of the Trisus platform partner programme.
Trisus is a cloud-based platform that collates data for healthcare providers as well as providing a number of analytical tools.
Chief Executive Keith Neilson expressed confidence in achieving another "positive year ahead".
"Momentum has continued post-year end, with good levels of trading and customer confidence, providing the board with confidence in continued growth momentum for [financial 2025], delivering on current expectations and the sustainable return to double digit growth rates," the company said in a statement.
Craneware disclosed a "significant" reduction in debt in the year at USD35.4 million from USD83.0 million a year prior.
An unchanged final dividend of 16.0 pence per share meant the total payout was raised by 1.8% to 29.0p from 28.5p.
In response, shares in Craneware jumped 8.9% to 2,254.00 pence in London on Tuesday.
By Jeremy Cutler, Alliance News reporter
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