Totally expects FY EBITDA to be 'substantially ahead' of consensus estimates

25th Apr 2022 10:12

(Sharecast News) - Healthcare services provider Totally said on Monday that full-year underlying earnings were expected to be "substantially ahead" of consensus expectations of £5.4m and the £5.0m reported last year.

Totally stated the "strong trading performance" across the group in the twelve months ended 31 March was driven by enhanced demand attributed to the impact of the global Covid-19 pandemic, which increased demand for services and led to "significant growth" in waiting lists.

During the year, Totally secured a new contract with Kings College NHS Foundation Trust, as well as further contracts for the provision of NHS 111 online clinical services in North East England and South-East London, and a five-year contract for the provision of out of hours GP services in Staffordshire and Stoke.

The AIM-listed company highlighted that it was in a healthy financial position, with £15.3m of net cash, something it stated was "particularly pleasing" given that £7.4m in cash had been deployed to complete "two significant acquisitions" during the year.

Totally added that it has no debt financing but noted that during the period it secured a £5.0m rolling credit facility, should it be required at any time in the future.

As of 1010 BST, Totally shares were up 4.32% at 44.08p.