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Totally PLC on Tuesday said it delivered a performance ahead of expectations, as growing waiting lists for healthcare increased demand for its services.
In the 12 months to March 31, the Derby-based healthcare service provider said pretax profit jumped to £1.3 million from £56,000 a year prior.
Revenue increased 12% to £127.4 million from £113.7 million. The increase was mostly down to the growth in Insourcing revenue, which more than tripled to £10.3 million from £3.1 million, Totally said.
Insourcing revenue primarily came from Totally Healthcare, ‘as hospitals and trusts sought support to tackle increasing waiting lists’.
Urgent Care revenue rose 3.6% to £109.2 million, and Planned Care revenue grew by 44% to £7.5 million.
Its gross margin dropped slightly to 18% from 18.3%, due to the management of Covid-19 regulations.
‘The group made excellent progress during the year and performance exceeded our internal management and consensus market expectations. Performance was supported by increased demand attributed to the impact of the global pandemic which continued to increase demand for services and led to significant growth in waiting lists,’ said Chief Executive Officer Wendy Lawrence.
It proposed a final dividend of 0.50 pence per share. This brings the total for the financial year to 1.00p, double that of the total of 0.50p in the year before.
Shares in Totally were down 0.9% to 45.09 pence each in London on Tuesday morning.
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