Business
Half-year Report
Half-year Report.
About this update from Craneware Plc
[{"type":"text","content":"\n \n \n RNS Number : 7600E\n Craneware plc\n 03 March 2020\n \n \n \n \n Craneware plc\n \n \n (\"Craneware\", \"the Group\" or the \"Company\")\n \n \n \n \n \n Interim Results\n \n \n \n \n \n \n 3 March 2020 - \n \n Craneware (AIM: CRW.L), the market leader in Value Cycle software solutions for the US healthcare market,\n announces its unaudited results for the \n six months ended 31 December 2019\n .\n \n \n \n \n \n \n Financial Highlights \n \n (US dollars)\n \n \n \n \n \n · \n Revenue of $35.9m (H1 2019: $35.9m)\n \n \n · \n Adjusted EBITDA1 increased 10% to $12.7m (H1 2019: $11.6m)\n \n \n · \n Profit before tax increased 3% to $9.6m (H1 2019: $9.3m)\n \n \n · \n Adjusted basic EPS2 increased 3% to 31.1 cents per share (H1 2019: 30.2 cents per share)\n \n \n · \n Cash position of $45.0m (H1 2019: $38.7m)\n \n \n · \n Interim dividend increased 5% to 11.5p per share (H1 2019: 11p per share) \n \n \n \n \n \n 1. Adjusted EBITDA refers to earnings before interest, tax, depreciation, amortisation, share based payments and acquisition and share transaction related costs.\n \n \n \n 2. \n \n \n Adjusted Earnings per share (EPS) calculations allow for the tax adjusted acquisition costs and share related transactions together with amortisation on acquired intangible assets\n \n \n \n \n \n \n Operational Highlights\n \n \n \n \n \n · \n Strong growth in New Sales, up over 30% compared to H1 2019, 90% of which was expansion sales to existing customers, including increasing product cross sell and sales to new hospitals joining existing healthcare network customers \n \n \n · \n Our new cloud based Trisus solutions accounted for c. 10% of new sales (H1 2019: 6%)\n \n \n · \n Increase in total value of renewals and high number of customer renewals, although renewal statistics dipped to 73% owing to the loss of one customer. \n \n \n · \n Strong sales activity and opportunities across all classes of hospital providers\n \n \n · \n Increased investment in R&D to $10.3m (H1 2019: $9.1m), to take advantage of the growing market opportunity. Capitalisation decreased to $4.0m (H1 2019: $4.4m)\n \n \n \n \n \n Outlook\n \n \n \n \n \n · \n Strong sales pipeline for the current financial year\n \n \n · \n As at end of February 2020, total visible reven...