Totally PLC (AIM:TLY), the health service provider, lost a quarter of its value on Monday after it warned revenue and underlying profits for the upcoming financial year would be lower than the previous twelve months.
Reporting preliminary results for the 12 months ended 31 March 2023, the company claimed that “increasingly challenging operating conditions” in the industry could weigh on sales and may marginally lower EBITDA in the cirrent year.
Wendy Lawrence chief executive officer at Totally said: “We expect the coming year to be challenging as the NHS continues to operate in crisis and faces ever-increasing demand across all services.”
For the 12 months to March 2023, Totally's revenues jumped by 6.5% year-on-year to almost £136mln and underlying profits rose 11% to £6.9mln.
During the period Totally served around two million patients, 120,000 of whom came from elective care waiting lists.
Elective care was Totally’s biggest area of growth in the 2023 financial year as revenue doubled to reach around £35mln.
However, urgent care revenue decreased by over 10% to £98.8mln in the same period, with four contracts in northwest London coming to a close.
Around 9.40am, Totally shares were trading 25% lower at 12.75p, down over 60% in the year-to-date.