Craneware lifts its performance

CRANEWARE, the Livingston-based firm whose software helps healthcare providers reduce billing errors, has reported a strong rise in revenues and profits.

The company said profits before depreciation, amortisation and share-based payments rose to £2.6 million in the year to the end of June, compared to £2.2m last year.

Revenues increased by just under a quarter to £10.6m.

Keith Neilson, Craneware's chief executive, said: "Our first year as a public company has seen Craneware increase its customer base, broaden its product set and maintain its market-leading position in the US healthcare financial performance improvement market."

He added that legislation and fiscal pressures are forcing US hospitals to improving financial management, helping its growth.