LONDON (Alliance News) - Digital healthcare services company Totally PLC issued a warning on its 2014 results on Wednesday, saying its loss will be wider than market expectations due to a fall in revenue caused by contract delays.
Totally said it had seen a number of delays in signing new contracts and renewals with a small number of Clinical Commissioning Groups, a Commissioning Support Unit, and a specialist healthcare organisation, all of which had been expected to contribute to its revenue for the year to the end of December.
As a result of the delays, Totally expects its revenue for the year to December 31 will fall below current market expectations, pushing its net loss wider than the market view.
Totally said it made small profit in November and December and said it is confident the delays will not have an impact on its cash position.
It expects the contracts which were delayed will be successfully executed and will contribute to a stronger performance for the company in 2015. It added its administrative expenses are still in line with market expectations.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Totally (TLY)