The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen here.
Richard Sneller bought some of the ex-GBH shares...
Holding increased to 6.5%
https://www.investegate.co.uk/totally-plc--tly-/rns/holding-s--in-company/202007240921210150U/
dflynch,
"strong demand for home hygiene products and hand sanitiser "
Unilever's hand santiser contains alcohol, as recommended by WHO, CDC, NHS etc
Byot's is alcohol free.
As I posted ages ago, majority of the public would follow WHO's advice, so Unilever's statement of a surge in demand was expected.
Unilever also switched production within 25 days.
Why would unilever want to take over Byot when they can switch production within days and they manufacture alcohol based sanitiser?
"We’ve also adapted some Unilever sites to produce sanitisers, and learnt from the experts in our deodorants business who know about working with flammable liquids (like deos, hand sanitiser contains alcohol). Our factory in Vietnam was the first to make a major change, switching production to hand sanitiser in just 25 days."
"As long as the products could meet the WHO standards of a minimum of 60% ethanol content in sanitiser, we decided we wouldn’t worry about bottle shapes or designs. When the priority is meeting demand during a pandemic, how the products look is much less important."
https://www.unilever.com/news/news-and-features/Feature-article/2020/how-our-hand-sanitiser-business-adapted-to-meet-global-demand.html
WHO:
"Wash your hands frequently with soap and water or use an alcohol-based hand rub if your hands are not visibly dirty."
https://www.who.int/emergencies/diseases/novel-coronavirus-2019/advice-for-public
Byot provided a TU every month since the lockdown...on 23/03, 27/04 & 14/05 but nothing in June and only a week to go in July.
Without an update, I suspect there's no change since the last update and orders have slowed down as they previously indicated. I think the next update could be the results, which are due by 30th Sept.
The May update FROM THE COMPANY:
Record levels in the 1st QTR, ie to June... then optimistic of high levels, not record levels for remainder of H1...
"As we start a new financial year, we are pleased to report that sales momentum remains strong. We expect to generate record sales in the first quarter of the year and are optimistic that high levels of demand will continue for the remainder of the first half at least.
Sales in March and April 2020 each exceeded GBP1m and we are expecting to show similarly strong performance in May. Our order book at the end of April stood at over GBP2m. The Group's supply chain is working well despite the global shortage of biocidal ingredients, exacerbated by unpredictable national lockdowns and border closures."
https://byotrolplc.com/wp-content/uploads/2020/05/2020-05-13-TU-IRI-SCJ-FINALpdf.pdf
Thordon,
absolutely, watch the interviews, read the results...
Most of the information is there for everyone.
Interviews:
Bob Holt - Chairman interview:
https://www.youtube.com/watch?v=_CKSetjgRvs
Wendy Lawrence - CEO interview:
https://www.proactiveinvestors.co.uk/companies/news/923616/totally-plc-focused-on-organic-growth-and-sees--massive-potential--to-expand-into-ireland-923616.html
Thanks FlagstaffIR,
The video is a week old and there's nothing new in it.
They also mentioned it in their investor presentation.
Read their results and listen to their investor presention.
https://www.investormeetcompany.com/totally-plc/register-investor
Thordon,
Totally Healthcare is just 1 of their 3 divisions.
From their rns
Totally plc is a leading healthcare service provider in the UK and Ireland, working in partnership with the NHS and other providers to deliver healthcare services through its divisions of Urgent Care, Planned Care and Insourcing.
Urgent Care
Totally offers a full range of urgent care services via its subsidiaries, Vocare and Greenbrook Healthcare, two of the largest urgent care providers in the UK, including:
· NHS 111 services
· Clinical Assessment services
· GP Out-of-Hours services
· Urgent Treatment Centres
www.vocare.org.uk
www.greenbrook.nhs.uk
Planned Care
Totally delivers planned care services, which include community based Out-Patient Services, Referral Management Services, Physiotherapy and Podiatry Services. It provides these through its planned care subsidiaries, About Health, Premier Physical Healthcare and Optimum Physiotherapy.
www.abouthealthgroup.com
www.premierphysicalhealthcare.co.uk
www.optimum-hcs.com
Insourcing
Launched in October 2019, Totally Healthcare provides bespoke insourcing solutions across multiple specialities to trusts and hospitals in the UK and Ireland, reducing waiting lists by utilising their spare capacity outside of normal working hours and weekends.
www.totallyhealthcarelimited.com
https://polaris.brighterir.com/public/totally/news/rns/story/w3gozjx
Bald_eagle,
"you seemingly cannot admit that you made an honest mistake. There comes a point when one is in a hole it is advisable to stop digging!!"
lol... agree, I know how you feel..
It's not the 1st time either. He's not called Tricky for no reason.
:-)
Props
"like BYOT missed out June...."
When updates are missed then investors have to default to their latest, which was in May.
As oneandone says sales should be OK, which is not the same as 'record sales' that they achieved in April/May.
With the list of new outlets, it seems very likely that the 'record sales' during Apr/May was to initially stock up these outlets.
Has anyone any evidence that there have been repeat sales?
Byot provided a TU every month since the lockdown...on 23/03, 27/04 & 14/05.
Without an update, I suspect there's no change since the last update and orders have slowed down as they previously indicated. I think the next update could be the results, which are due by 30th Sept.
The May update FROM THE COMPANY:
Record levels in the 1st QTR, ie to June... then optimistic of high levels, not record levels for remainder of H1...
"As we start a new financial year, we are pleased to report that sales momentum remains strong. We expect to generate record sales in the first quarter of the year and are optimistic that high levels of demand will continue for the remainder of the first half at least.
Sales in March and April 2020 each exceeded GBP1m and we are expecting to show similarly strong performance in May. Our order book at the end of April stood at over GBP2m. The Group's supply chain is working well despite the global shortage of biocidal ingredients, exacerbated by unpredictable national lockdowns and border closures."
https://byotrolplc.com/wp-content/uploads/2020/05/2020-05-13-TU-IRI-SCJ-FINALpdf.pdf
Stevie
"14p in old money"
No. The rthm/Tap merger was 28/33, so the rthm equivalent sp is 11.8p, old money.
Best to read the company newsflow, follow the industry newsflow.
Safi
A couple of years ago, posters were speculating that one of S4's initial acquisitions would be rthm at around 500p, especially after their Yume takeover. The speculation was that Yume was US listed prior to rthm takeover and rthm continued their SEC filings, so it followed that S4 would bid for them.
I'd wait to see what they say, otherwise, like last time it could be a false dawn...
IF there is an offer, it's likely to be around 25-30% above the current sp, so around 180p-200p...
Gdog,
"But we do try to gain an edge by doing our homework, we try to invest "wisely", and being opportunistic."
Part of that homework must always be to read both bull & bear points, question the contents of a post and crucially read up about where the industry is heading.
If the bear points can be countered then it makes the bull points stronger. And vice versa.
As I stated in my Fri post, given the economic uncertainty and Miton investors withdrawing from their funds, I wouldn't be surprised if Miton sold some more.
Miton bought 29.8m in the placing at 10p.. They've sold around 5m at around 70% profit..
Miton, pg 135, went from 0% to 29.8m in the placing at 10p
https://www.totallyplc.com/wp-content/uploads/2019/06/Totally-plc-Admission-Document-31-May-2019.pdf
Miton trimmed down their TLY holding probably due to their investors withdrawing funds, as they have had to do on previous occasions, as stated in this article. They have been forced to reduce their holdings.
"To fund withdrawals, Williams has trimmed some of his holdings while selling out of others completely. The number of stocks in the portfolio has fallen from 89 at the end of May to 56 at the end of last year."
https://citywire.co.uk/funds-insider/news/gervais-williams-insists-he-can-bounce-back-as-fund-shrinks-75/a1317959
TLY, at 5.45% as of 30th June, is their largest holding: https://www.trustnet.com/factsheets/o/i0yo/lf-miton-uk-smaller-companies-a-acc
This shows that Miton trimming down is nothing to do with TLY business or prospects.
The Investor Presentation is still available if anyone missed it.
https://presentations.investormeetcompany.com/investor-meet-company/preliminary-results-for-the-year-ended-31st-march-2020?bmid=4c07872ced4a
It was good to hear that they met with IIs last week and all of them seemed happy that TLY were not issuing guidance.
They clarified which parts of the business were impacted with the GE/Brexit and Covid19 and which will benefit from it.
They have streamlined the business into 3 divisions, which simplifies the business as it goes into the Growth stage of their 'Add & Build' strategy.
The figures for Totally Healthcare are excellent for a business started only a few months ago...
The confirmed they get paid monthly for their Urgent care contracts and these are
reconciled quarterly, so NHS is a regular payer. Recurring and increasing income.
They confirmed Michael Steel leaving was expected, as he only stayed on to integrate Greenbrook, which was completed earlier in the year. His leaving has no bearing on the business itself.
They confirmed no debt and continuing dividends.
A honest and open investor presentation. Answered any late questions and didn't try and avoid any difficult questions.
Well done Wendy and Lisa, CEO and CFO respectively.
Investor Presentation today @ 4pm
https://www.investormeetcompany.com/totally-plc/register-investor
Interviews & Investor Presentation:
Bob Holt - Chairman interview:
https://www.youtube.com/watch?v=_CKSetjgRvs
Wendy Lawrence - CEO interview:
https://www.proactiveinvestors.co.uk/companies/news/923616/totally-plc-focused-on-organic-growth-and-sees--massive-potential--to-expand-into-ireland-923616.html
Investor Presentation tomorrow:
Monday 13th July @ 4pm.
Investors can sign up to Investor Meet Company for free and add to meet Totally plc via:
https://www.investormeetcompany.com/totally-plc/register-investor
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...