(Sharecast News) - Healthcare services provider Totally expects underlying earnings to come in ahead of consensus for the year ended 31 March despite revenues falling short of expectations.
Totally said on Monday that reported EBITDA for the year would top market expectations, while revenues were expected to be below forecasts due to delays encountered with the NHS awarding new tenders primarily as a result of Brexit and the general election.
However, the AIM-listed group said that following its acquisition of Greenbrook Healthcare in June 2019 and the launch of its new insourcing business, it had achieved some margin improvement and further operating efficiencies which had a positive impact on EBITDA in the period.
Totally also said it was in a "healthy" financial position with ?8.9m in cash and no debt financing.
As far as the pandemic was concerned, Totally said it was currently focusing all efforts on "standing shoulder-to-shoulder with the NHS" in the fight against Covid-19.
As of 0930 BST, Totally shares were down 0.98% at 11.14p.
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