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Craneware targets US growth

CRANEWARE chief executive Keith Neilson has reaffirmed his belief the company is poised for greater success over the next few years.

At the firm's annual general meeting, he told shareholders the medical software developer is confident of achieving further gains in the United States of America with its healthcare revenue management products.

Mr Neilson, who co-founded the business in 1999, said: "Fiscal and regulatory pressures on US hospitals continue to drive interest in our suite of software solutions.

"Sales activity continues to build, which combined with our increased market presence, strong pipeline and high levels of revenue visibility, give us confidence in achieving a successful year and beyond."

All resolutions at the AGM in Edinburgh were passed yesterday.

Along with its headquarters in the Scottish capital the company has four sites in the US in Atlanta, Arizona, Massachusetts and Tennessee.

Craneware's shares had slipped to a near three-year low of 275p in July after it warned it would not hit full-year market expectations.

However, in recent months its share price has begun to climb steadily upwards and settle above 400p again.

Full-year results unveiled in September showed an 8% increase in revenues to $41.1 million (£25.9m) and 29% growth in pre-tax profits to $11.2m in the 12 months to June 30 this year.

The company's shares ended the day up 8%, or 33.88p, at 459.88p.

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