Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Totally Healthcare have a framework contract with all the NHS across Ireland ; England ; wales ; Scotland.
Waiting list is up-to 10.5 million for operations.
Newcastle upon Tyne Hospitals trust has begun running ophthalmology clinics at the weekend in a bid to tackle its backlog of patients with sight problems awaiting diagnostic tests. Ninety patients will attend on both Saturday and Sunday. Patients awaiting a CT or MRI scan, which play a key role in diagnosing cancer, are also being invited to attend new weekend radiology clinics.
htTps://www.google.co.uk/amp/s/amp.theguardian.com/world/2020/aug/06/nhs-shutdown-risks-thousands-of-deaths-in-covid-19-second-wave
i agree with most of what you say Thordon but what we need is some newsflow and if you notice the volume's are very low currently which results in poor performance, er i think i have just answered my own question lol
if you notice bummble1 pharma company's and Health sector taken a real beating today , its not a reflection on Totally but if it falls below 16p then will add this to my existing shares,
Totally have not change and remain the same .
It would appear the Gas market is where the cash being put into a present
I am not happy about the sp currently and has underperformed since end of may, very weak whatever the market does, however the fundamental's and cash are there plus the divi .the question is how long before any further contracts? and when is the market going to respond to this undervalued sp ? That is the question
the SP is tight as they have a buyers for the sellers , classic why to entice you into selling shares
Oh dear why isn't the sp much higher with gangs of rampers working the MB's 24/7 here
come on bum,you know that you will never get them back at the price you sold at. dream on
keep off the drugs
NOT 25p but 15p and could be 2.5p lol
Blah Blah Blah ! as aways just saying it's not true and posting loads of links which NO one clicks on doesn't mean your right
Here you can't vote posts down with coins and hide them like afv so punters can see them.
Away you always say i would to hear the bear & bull points but bann posters who prove your wrong or post bear points
2nd wave coming and your sp heading dub 25p again the market doesn't beilieve you
STTsBumbag, you know those bear points were proven wrong on 13th July. The company results and Investor Presentation provide all the answers. Yet you have chosen to deliberately repeat them.
Read the company newsflow:
Results.
https://polaris.brighterir.com/public/totally/news/rns/story/w0lql6w
The Investor Presentaion.
https://www.investormeetcompany.com/totally-plc/register-investor
Those bear were proven wrong by the presentation and results.
Declining organic revenue
During a General Election there is usually uncertainty in NHS over new government plans.
"The year ended 31 March 2020 was a good year for Totally delivering profit before depreciation and amortisation during times of unrivalled political instability which included BREXIT and a General Election followed by the worldwide pandemic of COVID-19 which has impacted on every person and every business."
"New contract wins were adversely impacted by the uncertainty created by Brexit and the general election. NHS commissioning understandably paused during this time; nonetheless, the Group was able to secure extensions of several existing contracts across the Group, plus a significant new contract for Planned Care, in Manchester. The new Insourcing division delivered over £1m in revenues in its first period of trading."
Increasing losses
Same as your 1st point. Understandably, the NHS have been renewing contracts but have paused new ones.
"The loss before tax of £3.4m is stated after an amortisation charge of £2.8m relating to the intangible value of contracts acquired."
Weak balance sheet
"The Group is cash generative and responded with the distribution of our maiden dividend in February 2020. The Board is also proposing the payment of a full year dividend of 0.25 pence per share, payable in October 2020. The intention is to consider future dividend payments based upon the trading performance of the Group."
Possible share overhang
That's rubbish, as ex-GBH holders were expected to sell and new/current II have bought.
Miton trimmed down their TLY holding probably due to their investors withdrawing funds, as they have had to do on previous occasions, as stated in this article.
"To fund withdrawals, Williams has trimmed some of his holdings while selling out of others completely. The number of stocks in the portfolio has fallen from 89 at the end of May to 56 at the end of last year."
https://citywire.co.uk/funds-insider/news/gervais-williams-insists-he-can-bounce-back-as-fund-shrinks-75/a1317959
No visibility (lack of guidance/broker forecasts)
The timing of NHS contract tenders has been delayed due to Covid 19.
"Whilst we expect the business to grow in 2021 and beyond, due to current run rates and new contract wins, the timing of new tenders, which is a key part of our growth plans, remains uncertain due to the COVID-19 pandemic and its impact on the NHS. We are therefore unable to give firm guidance at this stage on our growth expectations for the current financial year and the Board has considered it appropriate for market forecasts to be withdrawn at this time. The medium to long term outlook and trajectory of the business however remains unchanged."
https://polaris.brighterir.com/public/totally/news/rns/story/w0lql6w
READ THE COMPANY NEWSFLOW.
Anyone else seen this post over on afv?
some good info for people watching this away from all the ramping thats here
Totally plc bear case:
• Declining organic revenue
• Increasing losses
• Weak balance sheet
• Possible share overhang
• No visibility (lack of guidance/broker forecasts)
Declining organic revenue – broker Allenby says: “Stripping this [the Greenbrook contribution] out it is apparent that the organic performance of the Group indicated a 6% reduction in revenue from £78m to £73.1m.”
Increasing losses – loss increased to £2.8m in FY20 from £1.5m in FY19. Yes they reported “adjusted EBITDA” of £4.0m but this disappears if you adjust for lease costs and include the cost of amortization of acquired contracts. Under the IFRS16 change, there is a £1.6m benefit to EBITDA from treating what were formerly operating leases (so operating costs) as assets/liabilities where the asset side is depreciated (so cost excluded from EBITDA) – these lease costs still have to be paid, whatever the accounting treatment. Adjusted EBITDA excludes £2.8m (from the Allenby note) of acquired contract amortization – these are contracts which TLY bought with the acquisitions and the amortization is a way of spreading the cost over the term of the contracts i.e. this is “profitability” which was bought and will disappear when the contracts end unless they can be renewed.
Weak balance sheet – Net current liabilities of £6m (this is current assets less current liabilities, nothing to do with long-term liabilities) and negative net tangible assets.
Possible share overhang – The biggest shareholder, Miton, declared a reduction in its position from 28.6m shares in July 2019 to 27.3m in August 2019, was still at 27.3m in November 2019, then fell to 25.7m by March 2020 (reported on tly site in March) and declared a further reduction to 25.4m in July 2020. In addition Michael Steel (ex-Greenbrook) left the company on 10th July and may be tempted to sell some or all of his 7.7m shares (as may other ex-Greenbrook holders) once the lock-up period ends upon publication of the audited accounts (we’ve only had the preliminaries so far).
On the positive side, they do still have a lot of cash on the balance sheet and they at last generated some operating cashflow in FY20, which they must have been very happy to see, although operating cashflow too was flattered by the IFRS16 change (£1.7m of lease cash cost moving from operating costs to financing costs).
So I suppose it all depends whether you believe 2H cashflow is indicative of the future and whether you think they can renew contracts, particularly the Greenbrook ones, on equally good terms as they expire and can start growing organically through winning net new business. Unfortunately, the uncertainties caused by Covid19 and the lack of guidance or broker forecasts make this difficult to judge.
Errors excepted. Happy to be corrected on any of this if it is incorrect.