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Craneware plunges on lower sales

Craneware plunges on lower sales

Shares in Craneware (CRW) plunged by a third on the news that the timing and quantity of sales closed in the second half of the year to June 2019 have been lower than expected.  The group – which provides software to help US healthcare organisations price, charge, code and retain earned revenues – said that it had continued to sign new contracts with hospitals, but that the shortfall occurred as the market processed the launches of three new products on its cloud-based ‘Trisus’ platform. House broker Peel Hunt notes, somewhat counter-intuitively, that a sales push in specific areas can lead to a sales hiatus.

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