Totally PLC on Tuesday said it expects a drop in revenue for the year ended March 31, but said its performance had still improved despite a ‘tough operational backdrop.’
Shares in the Derby, England-based healthcare services provider were up 19% at 6.25 pence per share in London on Tuesday morning.
Totally said it expects full-year revenue to fall by around 22% to £106 million from £135.7 million a year earlier, but predicts earnings before interest, tax, depreciation and amortisation will double to around £2.3 million, up from £1.1 million.
It added that the improved bottom-line was against a tough operational backdrop and follows a review by the board of its ‘structures, systems and processes to ensure it remains focused on growth and the provision of support to its commissioners when required’.
Looking ahead, Chief Executive Officer Wendy Lawrence said: ‘There is no doubt that the market continues to be difficult, and as commissioners have considered the actions required to move forward, we have also ensured that our house is in order. We have robustly addressed the cost base, which ultimately protects the services we deliver to patients, our workforce and long-term shareholder value. These cost savings supported our performance for [financial] 2024 and will continue to do so in future years. I am delighted to see new business opportunities emerging as we turn our focus to a return to profitability and growth.’
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