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Monimman,
"I see the cash position hasn't grown barely at all in the past 12 months "
Read the results.
They had 2 key earnings enhancing acquisitions during the year and despite using existing cash, they STILL increased cash over the prior year. ;-)
"We have made great progress against our buy and build strategy with two key acquisitions completed in the year. The addition of Pioneer Health Care and Energy Fitness Professionals to the Group enables us to respond to challenges faced in healthcare at the current time and equips us for a changing healthcare landscape where wellbeing is higher on the agenda and waiting lists are at all-time highs."
https://ir.design-portfolio.co.uk/viewer/51/27035
Read the company/sector newsflow.
;-)
Investor Meet presentation tomorrow at 10am.
https://www.investormeetcompany.com/totally-plc/register-investor
Isn't it odd that their cash position as of 31st May 2021 is the same as in the fy2021 results, 31st December 2021???
Despite the fact last year that the cash should build up strongly by Dec 2021, which it didn't..
"The Group is very well capitalised and was strengthened through two placings in 2020 raising a combined total of £17.9m (before expenses) and strong working capital management through advanced cash payments on major agreements. As at 31 December 2020 cash and cash equivalents were £19.2m. Cash as of end May was £15.1m, reflecting the expected release of customer prepayments in H1 2021, which should build back strongly by year end as we close contracts for execution in 2022 "
https://otp.tools.investis.com/clients/uk/open_orphan/rns/regulatory-story.aspx?cid=2484&newsid=1484078
Noelpro,
"You know well that no company is going to just post its cash balance on any arbitrary day."
It's not an arbitary day, it's end of H1 2022.
Last year, fy results were published on 17th June 2021.
Yet they DID publish their cash position as of 31st May 2021, 1 month before H1 end.
So if they didn't have a problem last year, why do they have a problem this year???
Very questionable and poses the question why they hiding their cash position?.
Evidence:
From fy2020 results last year - 17th June 2021
-- Cash and cash equivalents of GBP15.1m as at 31 May 2021
https://otp.tools.investis.com/clients/uk/open_orphan/rns/regulatory-story.aspx?cid=2484&newsid=1484078
Note the fy results don't appear on their website either!!
Moniman,
It's a legitimate question about cash position.
Are you not confident about your holding here that you don't wish PIs to know the cash position?
Threads exist to discuss these important company matters, don't they?
Moniman,
So you don't know how much cash they have got as of H1?
Very questionable for the company to keep PIs in the dark, given they would know the cash position as of 30th June, 2 weeks ago.
Begs the question, are they planning a placing?
Still no date for spin offs.. Maybe sometime later this year.... Whatever happened to by end of 2021???
Still lots of jam tomorrow...
"Following a significant upgrade to forecasts in April 2022, Totally delivered preliminary results for the year ended March 2022 that were ahead of our revised expectations. This is a remarkable result given the continuing challenges affecting the healthcare market and the delivery of services. We see many opportunities for further growth over the next three years and this is reflected in our forecasts which now include projections for FY25. With macro-economic and political headwinds increasing almost daily we consider that an investment in Totally offers strong growth with significantly lower risk than many other businesses. We therefore continue to believe that a fair value of 75p is achievable over the forecast period."
"Low risk investment – We consider Totally to be a relatively low risk investment with the government being the primary customer through the NHS, an important consideration during a period of increasing financial, macro-economic and political upheavals. With another record year in prospect and c.8p per share of cash (17% of the share price) on the balance sheet, we continue to believe that fair value of 75p is achievable.
https://www.allenbycapital.com/our-research/?fwp_research_client=440
"Committed with them to bring forward the financials, Sept interims where will show the market the cash balance etc"
Given H1 ended 2 weeks ago, they would know the cash position as of H1 end.
It's questionable that they still refusing to state how much cash they have.
"one of the very few AIM companies that will never fundraise again "
That's a stupid statement to make.
Never say never as it will come back and bite.
fy2020 they had £19m, fy2021 they had £15m.
So clearly cash was reducing.
So how much cash do they have as of end H1 2022, June 2022?
The rest of AGM comments are mostly jam tomorrow. Still no spin offs.
NHS Wales:
Patients waiting 2yrs at record high.
NHS Wales waiting times: Two years growth and new record
https://www.bbc.co.uk/news/uk-wales-61908285
TLY provides it's services in all 4 UK nations and Republic of Ireland.
Steveo
"Going back to my original comment, I track a number of other healthcare/biotech related stocks:"
So you're referring to covid shares, which have been pumped and then dumped as the country moves towards 'living with covid'.
The highs were around April 2021 and not end of summer 2021.
so soon after the outcomes of the 1st jabs. So it was becoming common knowledge that vaccines are going to work.
The covid boom and bust reminds me of the .com boom and bust.
Everyone (inc every reader here) needs healthcare, covid or not.
In terms of TLY, I'm comparing the revenues, which posters like to pump OO stating the revenue v mcap. I'm comparing dividends and BoD credibility.
OO is jam tomorrow with questionable corporate structure, failed Polb spin off, postponed further spin offs and doubts over the cash position and credibility issues with statements made by BoD.
With TLY, the future's bright with govn moving towards the need to tackle backlog of operations, better cash position, higher recurring revenues, paying dividends all for a lower mcap..
Steveo,
" I think you'd struggle to find an AIM health/biotech that has performed well since the end of summer 2021."
I wouldn't struggle...
OO hasn't performed well since before summer 2021, hasn't it? In fact since April 2021 when the sp was around 42p, it has on a downtrend.
On the other hand, AIM Health company TLY has performed well and given the shift to tackling backlog of operations, I believe there's more to come.
TLY
fy results are March 31st.
fy2021 31p
fy2022 35p
So April 2021 to April 2022 the sp increased from around 30p to around 49p, a huge 60% increase. In the same period OO went from 42p to 15p, a huge drop of 60%..
TLY has a lower Mcap than OO but makes increasing recurring revenues of £122m compared to OO's £50m..
TLY has £15m cash, as of 31st March (latest TU for fy2022) whereas OO won't say how much cash they have as of latest results.
Plus TLY pays a dividend.
TLY Results due next month.
The govn's policy has shifted to tackling the huge backlog of operations, GP/A&E waiting times.
TLY's diversified business model operates in 4 UK nations plus Republic of Ireland.
https://www.totallyplc.com/our-services/
Mcap only £76m with £15m cash and £122m revenues.
"Mo the new CEO with the full support of CF is doing a great job of winning new contracts with top 10 pharmaceutical companies, nearly £50 million signed since mid October"
Mo became CEO only 3 months ago and those contracts would have been in the pipeline for months, so those contracts weren't because of Mo. How well Mo is performing won't be known for months, possibly a year.
Also since same Oct there's been missed deadlines, complete mess of Polb, promised spin offs not happening etc
The £50m contracts v £90m mcap!!!
From the results:
Which entity do you shareholders have shares in? It's not the parent company which made a £1.5m loss, is it?
Where's the income statement account for the parent company?
"The Company has elected to take the exemption under section 408 of the Companies Act 2006 not to present the parent Company income statement account. The loss for the parent Company for the year was £1,522,000 (2020: loss of £1,891,000)."
https://otp.tools.investis.com/clients/uk/open_orphan/rns/regulatory-story.aspx?cid=2484&newsid=1591538
shandy
"Quoting a cash position on a single day can be slightly misleading, "
No it's not. Stating the current cash position at the time of the publication of the results or the end of the month before, ie 31st May 2022, would be quite normal. Not stating it raises more questions.
Citizen
"that's easily answered sttf, you just have to read to the third line:"
My post was on "Current cash balance as of 31st May 2022" not cash as of 5 months ago, 31st Dec.
As I said in my post, they published the 'current cash balance' as of 31st May when they reported last year, so why not this?
Elrico,
If their cash was increasing then I'm sure they would have reported it.
It raises the question why they have omitted crucial information. Possible placing..
In their fy2020 Annual Report they stated:
" As at 31 December 2020 cash and cash equivalents were £19.2m. Cash as of end May was £15.1m, reflecting the expected release of customer prepayments in H1 2021, which should build back strongly by year end as we close contracts for execution in 2022"
As you can see from the fy results the cash did not build back strongly by year end. They ended fy2021, Dec with £15.7m.
So it's quite likely the cash has reduced further since Dec 31st.
How much cash do they currently have? They don't mention the current cash balance, why not?
The results raised more questions than it answered. Vague about spin off delays when the market was right not long ago.
Didn't they say the DiM spin off will be post Polb lock in period ending? That says to me that because the Polb lock in period ending was a complete mess in that many PIs didn't receive their shares (and many still waiting) that the BoD thought that any spin off is likely to be a flop...
How many months/years is it likely to be before the 'right conditions' exist again??? Given the significant value in OO was DiM and the other spin offs then why buy OO now???
As I previously mentioned there is a questionable corporate structure and the results doesn't alleviate my concern.
The results and webcast also point to kitchen sinking by Mo. Are there any skeletons in the cupboard???
Easy question. How much cash do they currently have? They had no problem publishing the current cash balance (as of 31st May 2021) last year when they published the fy2020 results, so why not this year????
TLY have revamped their website.
Their services now listed as:
Urgent care
Elective care and outpatient services
First Contact Practitioner
Prison health
Corporate wellbeing
https://www.totallyplc.com/
Elective Care(Insourcing) and separately listed 'Prison Health'/'Corporate Wellbeing'
TLY's strategy was to build a diversified business to become a leading Out of Hospital (OOH) provider.
They have only recently reached that goal. They clearly don't need to raise cash, they paying dividends, have increasing recurring revenues and are winning new contracts.
Now the foundation has been set and investors are at last seeing the huge potential, I agree it seems to me the wrong to be selling out.
The govn focus is now to reduce the backlog of operations, reduce A&E/GP waiting times, planned care for OOH.
There are also changes to come with NHS. As I've posted before, these were already expected and TLY are well positioned for them.
As far as I'm concerned, foundation set and lots to look forward to.
Totally sees profits beating market forecasts as Covid drives rise in demand
The company won new contracts worth £59mln and contract extensions worth £72mln in the 12-month period to end-March
https://www.proactiveinvestors.co.uk/companies/news/980395/totally-sees-profits-beating-market-forecasts-as-covid-drives-rise-in-demand-980395.html
EBITDA expected to be substantially ahead of consensus
- Year-end cash significantly higher than forecast
- An exceptionally strong year
– Pioneer integrating well
- Growth opportunities and market position not reflected in share price
" Growth opportunities and market position not reflected in share price – This is an upbeat trading update and we remain confident that further progress will be made in FY23 and FY24. We look forward to the results in July when we will have an opportunity to revisit our forecasts. Fair value remains at 75p "
https://www.allenbycapital.com/our-research/?fwp_research_client=440