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On Tuesday, Craneware (LSE:CRW) reported improved full-year financial results and expressed optimism about future opportunities. For the year ending June 30, the software firm achieved a 9% increase in revenue, reaching $189.3 million. Annual recurring revenue rose from $169.0 million to $172.0 million, with net revenue retention remaining robust at 98%.
Adjusted underlying earnings saw a 6% increase, totaling $58.3 million. Adjusted basic earnings per share grew by 9%, reaching 94.8 cents, while statutory pre-tax profits surged by 20% to $15.7 million.
Despite these gains, total cash and equivalents declined from $78.5 million to $34.6 million. However, Craneware highlighted a significant reduction in bank debt during the year, with the debt position improving from $83.0 million to $35.4 million.
The firm also proposed a final dividend of 16.0p per share, maintaining the same level as the previous year. This brings the total dividend for the year to 29.0p, reflecting a 2% increase from the previous fiscal year.
Looking forward, Craneware is optimistic about future prospects, citing increased opportunities driven by its alliance with Microsoft and ongoing innovation. The company reported strong trading and customer confidence post-year end, which supports its outlook for continued growth in fiscal year 2025. The firm anticipates sustaining momentum and achieving a return to double-digit growth rates.
As of 0850 BST, Craneware shares had risen by 9.42% to 2,265.0p. The positive financial performance and strategic outlook underscore the company's confidence in its growth trajectory and future opportunities.
