Totally expects FY EBITDA to be 'substantially ahead' of consensus estimates
Totally
4.60p
16:55 19/04/24
Healthcare services provider Totally said on Monday that full-year underlying earnings were expected to be "substantially ahead" of consensus expectations of £5.4m and the £5.0m reported last year.
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Totally stated the "strong trading performance" across the group in the twelve months ended 31 March was driven by enhanced demand attributed to the impact of the global Covid-19 pandemic, which increased demand for services and led to "significant growth" in waiting lists.
During the year, Totally secured a new contract with Kings College NHS Foundation Trust, as well as further contracts for the provision of NHS 111 online clinical services in North East England and South-East London, and a five-year contract for the provision of out of hours GP services in Staffordshire and Stoke.
The AIM-listed company highlighted that it was in a healthy financial position, with £15.3m of net cash, something it stated was "particularly pleasing" given that £7.4m in cash had been deployed to complete "two significant acquisitions" during the year.
Totally added that it has no debt financing but noted that during the period it secured a £5.0m rolling credit facility, should it be required at any time in the future.
As of 1010 BST, Totally shares were up 4.32% at 44.08p.