Last checked at 14 Jan 2015 07:00
14 January 2015
Totally plc
("Totally" or "the Company")
Trading update
The Board of Totally (AIM: TLY), the provider of a range of services to the healthcare sector, is today providing a post year end trading update.
The continued focus of Totally is on innovative solutions for the management of long-term health conditions and the growth of the business is being led by Wendy Lawrence, CEO. In the past year Totally Health Limited, the Company's wholly owned operating subsidiary, has made significant progress in a number of areas in developing and growing its business with the NHS and other healthcare providers. During 2014, Totally was appointed by 9 new clinical commissioning groups ("CCGs") to undertake clinical health coaching programmes focused on the management of long-term conditions and the pipeline for new contracts remains healthy. In particular, the contracts signed with Waltham Forest, Bedfordshire and Hartlepool and Stockton-on-Tees extended the services provided by Totally into Coronary Heart Disease, Diabetes and Chronic Heart Failure, which are new treatment areas, meaning that Totally now works in four of the UK's top five long-term conditions.
However, in the second half of the year the Company has experienced delays in the signing of new contracts and renewals with a small number of CCGs, a Commissioning Support Unit (CSU) and a specialist healthcare organisation, all of which were expected to contribute revenues in the year ended 31 December 2014. The Board of Totally is confident that these delayed contracts will be successfully executed and will contribute positively to the out-turn for the Company in 2015. Administrative expenses for the year ended 31 December 2014 are in line with current market expectations.
As a result of these contract delays revenue for the year ended 31 December 2014 will be below current market expectations, with net loss for the same period being greater than current market expectations.
During November 2014 and December 2014 the Company made a small profit and was cash generative. The Board of Totally is confident that the contract delays experienced by Totally will not impact on the cash position of the Company moving forward.
Given the continued renewals of existing contracts with CCGs and the pipeline of contracts in place for 2015 with CCGs, the NHS and other healthcare organisations, the Board of Totally remain confident of the prospects for the business for 2015. The Board of Totally believe that the board appointments made over recent months are contributing positively to the Company's corporate development activities and pipeline. The Company is currently exploring several corporate opportunities, which include acquisitions and strategic alliances.
Totally Plc / Totally Health Limited | 020 3077 2212 |
Wendy Lawrence, Chief Executive Don Baladasan, Finance Director | |
Allenby Capital Limited (Nominated Adviser & Joint Broker) | 020 3328 5656 |
Nick Naylor / Nick Athanas / Alex Brearley | |
Optiva Securities Limited (Joint Broker) | 020 3137 1902 |
Christian Dennis / Jeremy King | |
Blytheweigh | 020 7138 3203 |
Tim Blythe / Camilla Horsfall |
Notes to Editors
Totally Health Ltd is focused on the provision of professional clinical health coaching which promotes and facilitates self care. Totally's services have been shown to reduce costs for Clinical Commissioning Groups by, for example, reducing unplanned admissions to hospitals and visits to Accident and Emergency Departments.
Totally currently operates contracts with NHS England and 9 Clinical Commissioning Groups across England. Shareholders should note that the National Health Service estimates that £7 out of every £10 spent in England on health and social care is supporting people diagnosed with a Long Term Condition.