Business
Interim Results
Interim Results.
About this update from Craneware Plc
[{"type":"text","content":"\n\nCraneware plc\n(\"Craneware\", \"The Craneware Group\", the \"Company\" or the \"Group\")\n Interim Results\n4 March 2024 - Craneware (AIM: CRW.L), the market leader in Value Cycle solutions for the US healthcare market, is pleased to announce its unaudited results for the six months ended 31 December 2023 (H1 FY24).\n \nFinancial Highlights (US dollars)\n \n\n\n\n\n· \n\n\nRevenues for the six months increased 8% to $91.2m (H1 FY23: $84.7m)\n\n\n\n\n· \n\n\nAdjusted EBITDA1 increased 8% to $27.5m (H1 FY23: $25.5m)\n\n\n\n\n· \n\n\nAdjusted profit before tax2 increased by 8% to $17.0m (H1 FY23: $15.7m)\n\n\n\n\n· \n\n\nProfit before tax increased by 13% to $5.9m (H1 FY23: $5.2m)\n\n\n\n\n· \n\n\nAdjusted Basic EPS increased by 4% to 42.8 cents per share (H1 FY23: 41.0 cents per share)\n\n\n\n\n· \n\n\nAnnual Recurring Revenue3 of $171.4m increased by 3% (H1 FY23: $166.4m)\n\n\n\n\n· \n\n\nCash conversion of EBITDA over last 12 months of 91% (H1 FY23: 77%)\n\n\n\n\n· \n\n\nCash reserves of $63.9m (H1 FY23: $90.8m)\n\n\n\n\n· \n\n\nTotal Bank Debt of $59.2m (H1 FY23: $107.9m)\n\n\n\n\n· \n\n\nInterim dividend of 13.0p (16.51 cents) per ordinary share (FY23 Interim dividend 12.5p)\n\n\n\n\n \n\n\n\n\n1\n\n\nAdjusted EBITDA refers to earnings before interest, tax, depreciation, amortisation, share based payments and acquisition and integration related costs\n\n\n\n\n2\n\n\nAdjusted profit before tax refers to profit before tax, amortisation of acquired intangibles and acquisition and integration related costs\n\n\n\n\n3\n\n\nAnnual Recurring Revenue includes the annual value of licence and related recurring revenues including transaction revenues as at 31 December 2023 that are subject to underlying contracts and where revenue is being recognised at the reporting date\n\n\n\n\n \nOperational Highlights\n \n\n\n\n\n· \n\n\nPositive response to recently launched Optimization Suites as a means for hospitals to strategically address challenges of the healthcare market\n\n\n\n\n· &...