AGM Statement and Trading Update

RNS Number : 7606K
Totally PLC
06 September 2021
 

 

6 September 2021

 

Totally plc

 

("Totally", "the Company" or "the Group")

 

AGM Statement and Trading Update

 

Totally plc (AIM: TLY), the provider of a range of healthcare services across the UK and Ireland, will hold its Annual General Meeting at 10.00am today at the Company's registered office address, Cardinal Square West, 10 Nottingham Road, Derby DE1 3QT. 

 

Chairman Bob Holt will make the following statement:

 

"We are extremely pleased with the Group's performance over the past year and how we continue to adapt to the unprecedented challenges created by the COVID-19 pandemic. In our full-year results, published on 6 July 2021, we reported a circa 25% uplift in EBITDA, alongside increased revenue and a substantial increase in profit before tax. This strong result was delivered as we worked through multiple lockdowns, maintained CQC "Good" accreditation across all services and as elective care and non-urgent procedures were suspended across the nation, meaning that our Planned Care and Insourcing divisions were unable to operate for significant parts of the last financial year.

 

"Services in all divisions have fully resumed and are focused on supporting the NHS and other healthcare partners as we enter this second winter period with pressures from COVID-19 alongside an anticipated return of seasonal flu. 

 

"Looking ahead, significant new opportunities are being presented to the Group and our strong position, highly cash generative with a  strong balance sheet and no debt, places us well to progress our ambitions for further organic and acquisitive growth.

 

"I would like to thank all our shareholders for their continued support throughout this challenging period. I hope all of you, and your families, stay well and safe."

 

Trading Update

The Group is trading strongly, in line with market expectations, and has a current cash position of c.£14.7m as at 31 August 2021, with no debt financing.

 

The Group's Planned Care and Insourcing divisions have resumed all services, and the Urgent Care division has recently secured two new tenders. Recently published data by NHS England  on waiting lists and new service opportunities to support the management of 'long COVID' present further opportunities for organic growth across the business. Meanwhile, the Group's strong cash balance leaves it well-positioned for acquisition opportunities that fall in line with its stated strategy.

 

Operational Review

Across Totally, particularly in the Urgent Care division,  preparations are underway for a second winter with the pressures of COVID-19 on top of an expected resurgence of seasonal flu and other normal winter demands. The Group continues to operate within NHS COVID guidelines, meaning appropriate PPE and social distancing remain in place across the business, and support for staff across all divisions to ensure they stay safe.

 

The Planned Care and Insourcing divisions are focused on supporting the NHS as it seeks to clear waiting lists that have built up during the pandemic. Latest figures from NHS England recently confirmed these had risen to more than five million in England alone, with similar increases expected across the rest of the UK and the Republic of Ireland.

 

Other operational highlights include:

 

· The Group's Urgent Care division is preparing to mobilise the new Urgent Treatment Centre at Denmark Hill following a successful tender process for King's College Hospital NHS Foundation Trust in August 2021.

· The Planned Care division is seeing several new service opportunities to support the number of people impacted by 'long COVID' including a rise in the number of people being referred into the traditional physiotherapy service for long COVID diagnoses.

· The Group's Insourcing division has recently been added to a national framework for Wales and is now fully registered on national frameworks for England, Scotland, Wales and the Republic of Ireland, as well as the local contract framework in Northern Ireland.

 

Outlook

The Directors are pleased with the current trading performance and remain confident in the outlook going forward. The Directors anticipate further growth as the Group supports the NHS and other healthcare providers through a second winter with COVID-19 and the increased pressure of significant waiting lists.



For further information please contact:

 

Totally plc 

020 3866 3330

Wendy Lawrence, Chief Executive

Bob Holt, Chairman

 


Allenby Capital Limited (Nominated Adviser & Joint Corporate Broker)

020 3328 5656

Nick Athanas / Liz Kirchner (Corporate Finance)

Amrit Nahal (Sales & Corporate Broking)

 


Canaccord Genuity Limited (Joint Corporate Broker)

020 7523 8000

Bobbie Hilliam

Alex Aylen

 


Yellow Jersey PR

020 3004 9512

Joe Burgess

Henry Wilkinson

 

 

Notes to Editors

Totally plc is a leading healthcare service provider in the UK and Ireland, working in partnership with the NHS and other providers to deliver healthcare services through its divisions of Urgent Care, Planned Care and Insourcing.

 

Totally is committed to pursuing a progressive buy-and-build consolidation strategy within the fragmented healthcare market and looks to capitalise on the attractive opportunities that its disruptive service model offers, to generate value to shareholders.

 

Urgent Care

Totally offers a full range of urgent care services via its subsidiaries, Vocare and Greenbrook Healthcare, two of the largest urgent care providers in the UK, including:

 

·NHS 111 services

·Clinical Assessment services

·GP Out-of-Hours services

·Urgent Treatment Centres

 

www.vocare.org.uk  

www.greenbrook.nhs.uk  

 

Planned Care

Totally delivers planned care services, which include community based Out-Patient Services, Referral Management Services, Physiotherapy and Podiatry Services. It provides these through its planned care subsidiaries, About Health, Premier Physical Healthcare and Optimum Physiotherapy.

 

www.abouthealthgroup.com  

www.premierphysicalhealthcare.co.uk  

www.optimum-hcs.com  

 

Insourcing

Launched in October 2019, Totally Healthcare provides bespoke insourcing solutions across multiple specialities to trusts and hospitals in the UK and Ireland, reducing waiting lists by utilising their spare capacity outside of normal working hours and at weekends.

 

www.totallyhealthcarelimited.com

 

More information on Totally plc can be found the following link:   www.totallyplc.com .

 

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