LONDON (Alliance News) - Healthcare services firm Totally PLC said Monday its interim loss halved as revenue surged amid acquisitions and contract growth continued to build.
For the six months ended September, pretax loss narrowed to GBP540,000 from GBP1.3 million the year prior. This was after revenue rose to GBP40.2 million from GBP3.5 million the year before.
Performance was helped by the contribution of recent acquisitions, in particular that of out-of-hospital services firm Vocare Ltd which Totally Chairman Bob Holt explained had brought "significant scale and diversity" to the firm.
In October 2017, Totally acquired Vocare for GBP11 million.
"I am thrilled with the progress we continue to make across the group, integrating our subsidiary businesses, making material improvements to services and securing contracts," Totally Chief Executive Officer Wendy Lawrence said.
Since early July, Totally has won over GBP10 million in new and renewed contracts with growth opportunities continuing to be "strong."
"The government's recent budget update which outlined an additional GBP20.5 billion per annum for the NHS by 2023 will also present opportunities for Totally to further support the NHS," Lawrence added.
Totally does not pay an interim dividend.
"We still have challenges ahead and more work to complete on integration and innovation, but these are matched by major opportunities across the out of hospital healthcare sector for all of the businesses within Totally", Lawrence continued.
Shares in Totally were 2.0% lower at 19.60 pence on Monday.
Totally (TLY)