The acquisition of Vocare has driven an 83.5% leap in revenue for out-of-hours services provider Totally Plc.
The Aim-listed company announced revenue of £78m for the year ended 31 March 2019 against £42.4m for the previous 15-month period, reflecting the ‘transformational’ acquisition, contract wins and extensions, and organic revenue growth of £1.9m in the Group’s ‘other’ business segment, which includes physiotherapy and its About Health brand.
Cost of sales almost doubled from £42.5m to £78m, while administrative expenses rose by 37.5% to £11m. Exceptional items of £126,000 were down on the previous year (2018: £4.5m) but depreciation and amortisation of £2.8m pushed the company into an operating loss of £1.6m compared to a £2.8m profit in 2018.
Nevertheless, EBITDA surged 450% to £1.1m and, after a year of integration and operational restructure, the company said it had ended the year with a stable monthly run rate.
Looking ahead, CEO Wendy Lawrence said: ‘The pipeline of new opportunities continues to be strong across the Group, as do the opportunities to look at new business streams across the UK. Given the completion of the recent acquisition of Greenbrook Healthcare, the year ahead will see us focus on organic growth as well as integrating our subsidiaries and bringing together business streams, whilst at the same time further developing the culture of Totally to ensure we can attract and retain the very best staff.’
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