Trading update

Craneware ‘well-positioned’ despite virus disruption

Keith Neilson

Keith Neilson: optimistic

Healthcare billing company Craneware said it expects to deliver standstill results with revenue for the year coming in at $71.4m (FY19: $71.4m) and adjusted EBITDA of $24.5m (FY19: $24m).

Trading in the first 9 months of the year, prior to the outbreak, had been strong, with total sales tracking over 30% above the prior year.

Since the outbreak, the company has not drawn on support from either the UK or US governments, instead focusing on cost-control.

The company said it is well-positioned to continue its investment strategy whilst executing on any “market opportunities” that arise. The board’s current expectation is to pay a dividend for the year to 30 June 2020, to be announced in September, in line with the board’s usual practice, and will take into account market conditions at that time. 

The company believes he global pandemic has highlighted the importance of usable financial and operational data which will drive further investment by hospitals.                  

Keith Neilson, CEO, pictured, said: “We continue to look to the future with high levels of optimism in the resilience of the Company, our team and that of our customer base.”

Leave a Reply

Your email address will not be published. Required fields are marked as *

This site uses Akismet to reduce spam. Learn how your comment data is processed.