Enlarged Totally Plc reports strong interims

Wendy Lawrence, chief executive officer, Totally plc

Out-of-hours care provider Totally Plc said today that it has a strong pipeline of opportunities across all its business streams as it announced its interim results for the six months ended 30 September 2019.

The company, which launched a new NHS insourcing business, Totally Healthcare, in September, reported solid results across its core business as it continued to scale the Group. 

Turnover was up 22% to £49.2m – partly due to the acquisition of Greenbrook at the end of June. The deal followed its ‘transformational’ acquisition of out-of-hospital services  provider Vocare for £11m in 2017 and has helped the AIM-listed company extend its footprint across the UK.

After cost of sales of £39.4m and administrative expenses of £7.7m, EBITDA excluding exceptional items came in at £2.1m against £95,000 in the six months ended 30 September 2018.

After exceptional items of £790,000, EBITDA was up 28% on the previous year at £1.3m. Depreciation and amortisation of £3.8m, which includes amortisation of acquisition intangibles relating to contracts acquired of £2.5m, resulted in an operating loss of £2.5m against £413,000 in September 2018.

Commenting on the results, CEO Wendy Lawrence said: ‘Following the progress made on the integration of Greenbrook we now have a strengthened nationwide platform for service delivery in integrated urgent care, complementing our planned care subsidiaries which continue to perform well and win new business. We are very excited by the future prospects and are now focused on continuing to build momentum across all our divisions and, as with the recent launch of Totally Healthcare, are looking for opportunities to continue to grow organically into the lucrative and emerging areas of both planned and urgent care.’