LONDON (Alliance News) - Totally PLC Tuesday expressed confidence for 2014 following a strategic review of its business as it posted a widened pretax loss for 2013.
The digital healthcare products company saw its shares drop 22% after it said its pretax loss widened to GBP731,000 from GBP679,000, despite seeing revenue rise to GBP878,000 from GBP769,000, offset by higher sales costs and administrative expenses.
During 2013 the company completed its GBP1.6 million contract with the NHS to launch patient decisions aids covering 36 specific disease areas, with matching mobile applications.
Totally undertook an internal business review during the year; it strengthened its balance sheet by selling off its Totally Communications business in December 2013 and raised GBP600,000 in a share placing.
It said that this had allowed it to refocus its business to deliver long-term value.
As part of this review it has reduced its costs and overheads "considerably" going forward, it said. It also invested in its headcount, adding to its clinicians and business development specialists.
Shares in Totally were trading down 0.133 pence at 0.467p Tuesday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
Copyright 2014 Alliance News Limited. All Rights Reserved.
Totally (TLY)