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(Alliance News) - Totally PLC on Monday said it expects its earnings for financial 2020 to be ahead of expectations despite a revenue underperformance.
For the year to the end of March, the provider of out-of-hospital services to the healthcare sector expects earnings before interest, taxes, depreciation, and amortization to be ahead of expectations. However, revenue is expected to be below expectations due to delays encountered with the NHS in relation to the award of new tenders particularly due to Brexit and the general election, it said.
Totally attributed the Ebitda performance to the acquisition of peer Greenbrook Healthcare for GBP11.5 million in June 2019, and the launch of the its insourcing business Totally Healthcare in October. The company added that during the period, it secured new contracts worth over GBP30 million and contract extensions worth over GBP20 million.
The Derby-based company said it is currently focusing on supporting the UK National Health Service amid the Covid-19 outbreak.
As at the end of March, Totally had cash of GBP8.9 million and no debt financing.
The stock was trading 4.7% lower at 10.72 pence each on Monday afternoon in London.
By Ife Taiwo; ifetaiwo@alliancenews.com
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