Results 

Craneware cash outflow catches market off guard

Craneware cash outflow catches market off guard

Craneware (CRW) shares fell on the release of these ‘in-line’ half-year numbers and it’s quite puzzling why. The healthcare billing software group posted a 15 per cent rise in half-year revenues to $35.9m (£27.1m), while adjusted cash profits rose by a fifth to $11.6m. Perhaps it was the group’s cash position – now $38.7m, compared with the last half-year’s $52.2m – which caught investors off guard. This was the result of shareholder returns and research and development (R&D) investments in the period, although an extra $10m in collected receivables means analysts at Investec see “no lasting issue” with future cash outflows.

To continue reading, subscribe today

and enjoy unlimited access to the following:

  • Tips of the Week
  • Funds coverage
  • Weekly features on big investment themes
  • Trading ideas
  • Comprehensive companies coverage
  • Economic analysis
Subscribe
Subscribe to Investors Chronicle

Subscribe today

Full access for just £3.37 a week:

• Tips and recommendations - to beat the market 
• Portfolio clinic & Mr Bearbull - build a well-planned portfolio 
• Expert tools - track and manage investments effortlessly
• Plus free delivery to your home or office

Subscribe Now