Totally PLC (AIM:TLY) shed another 9% as the healthcare services provider cautioned that agency staff costs are higher than anticipated and the awarding of new NHS contracts has stalled.
The business, which operates the 111 emergency phoneline service, is cutting costs to help alleviate the situation.
“We are actively implementing strategies to streamline our operations and to align them with a smaller overhead base which more readily reflects the current contract requirement,” chairman Bob Holt said ahead of its AGM.
The current outlook remains in line with a trading update in July, Holt added.
In that update, Totally warned revenue and underlying profits for the upcoming financial year would be lower than the £136 million and £6.9 million reported to the end of March 2023.
Shares fell 1.5p to 9.1p, making a fall of around 75% over the past 12 months.