TIDMTLY
RNS Number : 1122K
Totally PLC
20 April 2020
20 April 2020
Totally plc
("Totally", "the Company" or "the Group")
Trading Update
The Board of Totally plc (AIM: TLY), a leading provider of a
range of healthcare services across the UK, today announces an
update on trading for the 12-month period ended 31 March 2020,
ahead of the audited final results which are expected to be
announced in July 2020.
Based on draft unaudited numbers the Group anticipates reporting
EBITDA* for the year ended 31 March 2020 ahead of consensus market
expectations on lower than expected revenue. Revenue is expected to
be below consensus market expectations due to delays encountered
with the NHS awarding new tenders primarily as a result of Brexit
and the general election. However, following the acquisition of
Greenbrook Healthcare in June 2019 and the launch of the Group's
new insourcing business, Totally Healthcare, the Group has achieved
some margin improvement and further operating efficiencies across
the Group which have had a positive impact on EBITDA in the
period.
As at 31 March 2020 the Company was in a healthy financial
position with GBP8.9m of cash and no debt financing**.
Totally continues to make progress with its stated strategy and,
over the course of the 12-month period, announced in excess of
GBP30m of value in new contracts and over GBP20m in contract
extensions across its operating subsidiaries. The Group also
completed the transformational GBP11.5m acquisition of Greenbrook
Healthcare in June 2019 and, in October 2019, launched its new
insourcing business, Totally Healthcare, which is performing
strongly. These activities and successes have placed the Group in a
strengthened position as it enters the new financial year.
As announced on 27 March 2020, Totally is currently focusing all
efforts on standing shoulder to shoulder with the NHS in the fight
against COVID-19. Patient and staff wellbeing remains the Group's
top priority as it continues to deliver critical front-line
services across the UK and Ireland.
* EBITDA is defined as earnings before interest, tax,
depreciation and amortisation and excludes one-off exceptional
items
** Following the adoption of IFRS 16, the Company has reported
operating lease commitments as a debt on its balance sheet however
these do not affect the day to day working capital available to the
Group
For further information please contact:
Totally plc 020 3866 3335
Wendy Lawrence, Chief Executive
Bob Holt, Chairman
Allenby Capital Limited (Nominated Adviser
& Joint Corporate Broker) 020 3328 5656
Nick Athanas
Liz Kirchner
Canaccord Genuity Limited (Joint Corporate
Broker) 020 7523 8000
Bobbie Hilliam
Alex Aylen
Yellow Jersey PR 020 3004 9512
Georgia Colkin
Joe Burgess
Henry Wilkinson
Notes to Editors
Totally plc aims to become a leading healthcare service provider
in the UK, helping to address some of the biggest challenges faced
by the UK healthcare sector.
By working to deliver preventative and responsive care through
its subsidiaries across multiple disciplines, Totally's goal is to
improve people's health, reduce healthcare reliance, re-admissions
and emergency admissions.
Totally, via its subsidiaries, operates within the UK's
outsourced healthcare market, estimated to be worth in excess of
GBP20bn per year for the NHS alone. Out of hospital services
include care in the community, GP surgeries, patients' homes,
prisons and other public sector organisations, places of work as
well as mobile locations and urgent care solutions.
The Company is committed to deliver a progressive buy and build
consolidation strategy within the fragmented healthcare market and
is looking to further capitalise on the attractive opportunities
that its disruptive, outcome-based, outsourced healthcare service
model offers, to deliver value to shareholders as it continues to
build critical mass.
www.totallyplc.com
Premier Physical Healthcare and Optimum Physiotherapy -
occupational physiotherapy to NHS, prisons, the police force and
private clients
Providers of a comprehensive range of treatments and advice for
musculoskeletal injuries and conditions, delivering physiotherapy
and podiatry to NHS patients and various police forces and prison
sites, as well as providing occupational health and ergonomic
services to corporate and private clients.
www.premierphysicalhealthcare.co.uk
www.optimum-hcs.com
About Health Limited - provider of community-based dermatology
services and referral management services
A leading provider of dermatology and referral management
services to the NHS in the UK. About Health is CQC registered and
has been providing community-based health services under contract
to the NHS since 2009.
www.abouthealthgroup.com
Vocare Limited - leading UK urgent care provider
One of the leading national specialist providers of urgent care
services in the country. Provider of healthcare services to
approximately 9.2 million patients across the UK through urgent
care centres, GP out-of-hours services, integrated urgent care
centres and the NHS 111 service.
www.vocare.org.uk
Greenbrook Healthcare - leading provider of NHS urgent care
centres
An innovative primary care organisation caring for NHS patients
across London and the home counties. The business delivers services
for NHS patients in a growing number of GP Practices, walk-in
centres, Urgent Care Centres and community services.
www.greenbrook.nhs.uk
Totally Healthcare - provider of insourcing to reduce hospital
waiting lists
A provider of bespoke insourcing solutions to cut patient
waiting times across the UK and Ireland. Hospitals subcontract
medical services/procedures to Totally Healthcare's practitioners
who utilise spare capacity within the host hospitals - using their
premises and equipment for service delivery to reduce waiting
lists.
www.totallyhealthcarelimited.com
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END
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