Craneware 'confident' full-year performance will meet market expectations
Source - SMW
Craneware said Friday it was 'confident' of meeting market expectations for the full year amid continued sales momentum and high levels of revenue visibility.
Craneware expected to report increases in both revenue and adjusted earnings (EBITDA) in the range of 15% to 20% for the six month period through December, continuing the double digit growth delivered in prior years, Craneware said.
The majority of the revenue from both new and existing contract renewal sales successes would be recognised over future periods, adding to the group's long term visibility of revenue under contract, the company added.
The company also said it had continued to perform strongly in the first half of the financial year, with good levels of sales activity and customer renewals by dollar value continuing at their historic average of 100%.
Operating cash conversion for the 12 months was expected to be over 100%.
'With the record sales performance in the previous period, continued sales momentum and high levels of revenue visibility, the Board remains confident in meeting market expectations for the full year ending 30 June 2019,' the company said.
At 8:07am: (LON:CRW) Craneware PLC share price was +240p at 2390p