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Exactly, bumblebee. I would like more detail from TLY on the resource they use for the procedures but if it’s contract, or consultants working on their private lists (rather than NHS - as many do both) then the cost of that resource will be greater. It always is for outsourced labour. Currently the NHS is prepared to pay these rates to TLY but if the Labour Gov increase the NHS budget to do the same in-house then I fear this will reduce the contracts put TLY’s way.
As with for example dentistry, if they are short staffed for instance someone is on long term sick , and they bring in whats called a locam its cost far more than permanent staff and is usualy a last resort due to cost, the NHS is the same and i have read tat they frequently have to pay upwards of two thousand pounds per day for important professionals to fill in for shortages if they have to.
Iwantthatone,
" If you think the cost of a self-employed contractor is less than a permie I think you are deluded!"
You need to look at the business model.
The elective procedures take place over the weekend and evenings when OT are not normally in use. Procedures take place as and when there's a match between procedures required and consultants availability.
As procedures happen weekends, why would it be cheaper to hire a consultant on full time, sitting around on weekdays when there are no procedures planned?
It's cheaper to hire a specialist as and when there's a procedure, in which they specialise takes place.
TLY do also have full time staff, needed regardless of procedure, eg nurses during operation, aftercare.
You're assuming that the same contracted consultants are needed for every procedure, which is clearly not the case.
Yeah there’s a buy for every sell today, all healthy as 10/20% traders leave and new investors buy in.
Any good news now like a decent contract win and the sp will get a real boost from this level.
Quite a lot under the mid price are buys.
Cash nearly gone can't see the business model resolving this key fundamental issue..it just isn't profitable enough for the risks involved.
May i suggest you listen and watch the presentation Moniman ,this will answer most of your questions as others ave suggested.
Moniman
Lots of answers were provided in the interims presentation.
I suggest you listen to it from about 14 mins.
£2.9M came in from a NHS client just after the H1 reporting period ended plus they still have £2.5M they could utilise from the RCF should they need it.
Here’s a link to the presentation again in case you missed it.
https://youtu.be/uTWJEQ9git0?si=BY2xDKocCQLunXU1
I see STT1 constantly trashes HVO (a stock I hold too) so perhaps that’s why you are here, but don’t let that get in the way of making a profit from TLY.
Stonehage Fleming increased here after the interims came out and it looks like other institutions have been adding too looking at the trades but TR1s will tell us for sure.
Market cap is only £11M here so there’s plenty of room for it to grow imo.
I wonder how 🤔 big a rights issue would need to be if the cash balance runs out? I assume existing shareholders would be wiped out wouldn't they if new cash is needed to tide the business over until other money comes in? Lots of questions need answers it seems doesn't it?
Stt, self-employed doctors will demand daily rates that allow for their own pension contributions and whatever NI they need to pay as self-employed contractors. If you think the cost of a self-employed contractor is less than a permie I think you are deluded!
…that there are so many derampers on TLY and I think one of the reasons is so many have a bone to pick with stt for trashing their other shares!
Perhaps worth listening to the latest presentation, here’s a little snippet in this this tweet. CEO stated they don’t have any plans to raise cash and believe they will be cash generative in H2.
Approx. £2.5M cash came in just after half year, this was also mentioned in the presso.
https://x.com/moilgas/status/1730497614007726526?s=46&t=_ybVnpe01AP_F1Pw0JqKTg
This was also in recent interims:
-- Group is well positioned to RETURN TO PROFITABILITY following rationalisation of contracts, careful management of increasing costs and reduced support costs.
As mentioned this is just a trade for me at the moment, but I will keep under review.
There have been some very chunky trades recently including a 750K block buy yesterday which could be institutions taking advantage of the low sp and market cap. Keeping an eye out for TR1s
Link to full presentation here:
https://youtu.be/uTWJEQ9git0?si=BY2xDKocCQLunXU1
Cash balances no doubt drying up with very little in the way of bank facilities!
No chance .its the contracts they are waiting for.
The only thing TLY would benefit from at the moment imho, is a huge injection of new capital via a heavily discounted rights issue circa 4p...Will be interesting to see if that's what the BOD go for in the new year I wonder?
Thats another buy that's gone down as a sell !
Why do they do that ?
Iwantthatone,
"the point is that if a Labour Gov intends to put extra funds into the NHS (eg paying consultants overtime) to do weekend working to cut backlogs then presumably that work will no longer be performed by TLY. "
I agree with Justdeezerts, you miss the point.
One important factor, you also miss.
Pensions liability.
Where will the money come from to pay the additional pension burden? Who will pay the NI bill and subsequent pension liabilities to pay the overtime for NHS employed staff? Taxpayers, who are already paying the highest tax burden???
By using private providers, the pension burden is removed from the NHS. TLY uses self-employed staff as well as full time. When there's a need for elective surgery, staff are hired on a contract for that job. Therefore, staff hired for specific jobs are responsible for their own tax and pensions.
TLY could benefit from a Labour government IMO.
Good to see the recovery gaining momentum today.
IWantThatOne - you have it wrong here!
Read MorningStar article on Labour's ill-judged scheme:
"Reducing waiting times through funding additional overtime, as Streeting proposes, is an uncertain strategy which could exacerbate staffing problems.
Many doctors and nurses report hospitals struggling to maintain safe staffing levels on weekdays. Given that, looking to extra weekend shifts to address an operations backlog is hardly a sustainable solution.
Doctors and nurses already work weekends. Normalising weekend work for routine rather than urgent care is anti-social, further disrupting work-life balance in a sector where most will be giving up a large number of weekends already — something of particular concern to staff with families and likely in practice to hit female workers hardest.
Cash-strapped hospital trusts, juggling costs from PFI debt to medicines, may seek to normalise weekend working as an expectation rather than pay overtime premiums.
And the NHS, with its 100,000-plus staffing vacancies, has a limited pool to draw overtime labour from. Had Labour spent more time listening to the voices of doctors, nurses and paramedics on picket lines this year rather than ordering MPs not to attend them, it would have clocked concerns about burnout alongside those about pay: health workers terrified of making mistakes because they are working while exhausted and hungry, unable to take breaks because there are too many patients and too few staff.
More overtime can only worsen the problem of overwork, while an expectation of more weekend work could hit recruitment targets. And when it comes to making the NHS an attractive place to work, Labour’s plans still fall short."
West Streeting, the Shadow Health Secretary, said the overtime rates they will be paying will be much lower than what the doctors will receive in the private sector.
Stt, the point is that if a Labour Gov intends to put extra funds into the NHS (eg paying consultants overtime) to do weekend working to cut backlogs then presumably that work will no longer be performed by TLY. The NHS will keep it in house.
Hi TwoGood2Die,
I’m suggesting 7p+ over the next few trading days as the stock was technically oversold due to Sneller selling 8%+ shares and now they’ve been cleared this should snap back up to where it would have been had he not
sold. Technical movements don’t require news, but any good news will give this a much bigger boost.
Be back down tommorrow just day traders play thing!
No news so why suggest 7p ludicrous wishful thinking!
Almost 1% of all shares in issue bought today.
Highest close in two weeks.
It appears the overhang from Sneller has now fully cleared.
Astute investors have been picking up cheap shares over the past couple of weeks whilst the sp has consolidated below and around 5p.
This is just the start of the recovery imo. Over the next few trading days I’m expecting decent volume and the sp to race back towards 7p+.
Judging by the lack of share trading volume and few posts here most serious investors have got bored with tiny margins and an unworkable cash strapped business model on government funded life support and have moved on!
Bumblebee1,
The price ticked up at 8.05am, the time of the buy, so I’m certain it’s a buy. This stock doesn’t have much attention at the moment, but some decent daily gains from these lows and that will change imo.