Healthy profits for Craneware

6th Sep 2010 14:57

Craneware, which develops financial software for the US healthcare industry, saw a record level of contracted sales last year, and is looking forward to the Obama healthcare reforms, which could prove a source of further growth.Revenue in the year to 30 June 2010 rose to $28.4m from $23.0m the year before, while profit before tax advanced to $7.26m from $5.87m.Contracted sales in the year totalling $58.1m were up 34% on the previous year's $43.2m. Future revenues under contract surged to $89.8m from $60.1m the year before. The company's cash position improved to $29.4m from $26.1m at the end of June 2009."Our focus on the mitigation of risk for our customers, and the delivery of financial and operational efficiencies means we are extremely well positioned to benefit from the unprecedented changes we expect to see in healthcare in the U.S., no matter the final form of healthcare reform,2 said Keith Neilson, chief executive officer of Craneware.A final dividend of 3.3p has been proposed, making the full year pay-out 8p, up from 4.7p last year.