By Paul Sandle
LONDON, Sept 4 London-listed Craneware
said increased budget scrutiny was boosting demand for its
software products that help manage spending at U.S. hospitals,
improving the company's sales visibility.
Chief Executive Keith Neilson said the group had delivered
solid growth against the backdrop of the introduction of
electronic health records, which caused some disruption in the
But he said revenue visibility had now returned to
historical high levels, helped by a stable political and
"Despite it being an election year, there has been
bipartisan support for moving for greater transparency and
visibility in the healthcare system," he said.
"The underlying theme of transparency is definitely the
driver; people want to understand what's being spent and where
Edinburgh-based Craneware supplies software that helps
hospitals manage finances surrounding patient care services and
supplies. A quarter of U.S. hospitals use its software, the
The company posted a 16 percent rise in adjusted pretax
profit to $10.8 million on revenue up 8 percent to $41.1 million
for the year to end-June.
The group's shares rose 6.8 percent to 352 pence, as Peel
Hunt analyst Paul Morland said the results were in line to ahead
on most metrics.
"Crucially, visibility on the new year was back at a more
normal 80 percent, from 60 percent at this time last year," he
"This can now kick-start a rating recovery, as underlying
demand in U.S. healthcare remains firm and Craneware has the
right products to address market needs."