Scottish software company Craneware, which services the US healthcare market, has posted another rise in profits and revenue as demand for its products keeps pace with the evolving market.
The Edinburgh-based company, which is quoted on the Alternative Investment Market, is launching a share buyback programme of $25 million. A further announcement will be made in due course.
Adjusted profit before tax for the half year to the end of December rose 14% to $23.5 million on a 6% rise in revenue to $105.7m. It has declared an 11% rise in the interim dividend to 15p.
Chief executive Keith Neilson said: “The US healthcare market continues to evolve at pace, and with each new piece of legislation or change, the need for data-led insights and a secure and scalable technology partner grows.
“We have never been more confident in the vital role we play in enabling our customers to navigate these changes with confidence, while maintaining their financial strength and delivery of care. This is a hugely powerful motivator for all of us at the Craneware Group.
“With our wealth of proprietary data, deep industry expertise, longstanding and extensive customer base, and growing AI capabilities, the Board looks to the future with confidence.”
Group cash reserves, including cash in transit, remain high at $71.2m (H1 FY25: $72.2m) and bank debt has further reduced to $23.4m (H1 FY25: $31.6m).
source