RE: Results12 Jul 2020 19:14
Note, they clearly state their financial position:
"The loss before tax of £3.4m is stated after an amortisation charge of £2.8m relating to the intangible value of contracts acquired."
From the results:
FINANCIAL REVIEW
"The results reflect a successful year for the Group; well positioned for further scale and delivering diversification through the creation of three distinct divisions.
The acquisition of a quality urgent care provider, Greenbrook Healthcare and the creation of a new business in Insourcing have strengthened the financial performance of the Group. Growth in revenue was 35.8% year on year at £105.9m, and the Group generated a loss before tax of £3.4m (2019: £1.8m loss). Underlying EBITDA increased by 265% to £4.0m. This includes a £1.6m positive impact relating to IFRS 16.
"THE GROUP IS CASH GENERATIVE and responded with the distribution of our maiden dividend in February 2020. The Board is also proposing the payment of a full year dividend of 0.25 pence per share, payable in October 2020. The intention is to consider future dividend payments based upon the trading performance of the Group.
Growth in revenues was 35.8% primarily driven by the in-year acquisition, bringing revenues to £105.9m. New contract wins were adversely impacted by the uncertainty created by Brexit and the general election. NHS commissioning understandably paused during this time; nonetheless, the Group was able to secure extensions of several existing contracts across the Group, plus a significant new contract for Planned Care, in Manchester. The new Insourcing division delivered over £1m in revenues in its first period of trading.
Gross margin improved to 18.1% from 15.5%, largely as a result of improved performance in the underlying Urgent Care division. This improved performance has resulted in a reduction in provisions relating to performance related incentives of £1m. Underlying margin is therefore 17.2%.
All of our businesses continually review service delivery models and this approach has supported us through our response to the global pandemic. By utilising additional technology, reducing face to face contact, delivering 111 24/7 and flexing our services we have continued to deliver sustainable support to our partners, the NHS.
The Group posted an EBITDA, excluding exceptional costs relating to the acquisition and impairment of goodwill, of £4.0m. The loss before tax of £3.4m is stated after an amortisation charge of £2.8m relating to the intangible value of contracts acquired."
https://polaris.brighterir.com/public/totally/news/rns/story/w0lql6w
btw Arsenal,
Read STTsBumbag posts https://www.lse.co.uk/profiles/sttsbumbag/?page=5
He was invested in Rthm, now merged with TRMR, where the sp crashed from 2350p to around 140p because of questionable events that I highlighted.
Read his posts and form your own opinion...
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