Totally profits surge doesn’t convince investors

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Totally profits surge doesn’t convince investors
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Healthcare services provider Totally (LON:TLY) has increased its gross profits for the six months ended 30th September by more than five-fold to £5.68 million. Management said that the business has signed contracts worth more than £10 million since its last set of results and that all expiring contracts have been renewed.

The company’s chairman Bob Holt commented: “the acquisition of Vocare brought significant scale and diversity to Totally and, with the release of the new Integrated Urgent Care requirements by NHS England, offers a significant opportunity for the Group. During the reported period we entered a period of consolidation and operational focus to enable the continued delivery of earnings enhancing milestones. Whilst the acquisition of Vocare has not been without its challenges, we remain committed to building a profitable platform for growth and our vision of establishing the Group as the leading out of hospital services sector provider and in turn delivering value to our shareholders“.

Totally’s share price dropped by 4.25% to 19.15p (as 12:25 GMT).

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