Shares in Totally PLC dropped on Monday morning as the firm guided for lower revenue and earnings in the year ahead, despite a solid performance in its recently ended financial year.

Totally provides frontline healthcare services in the UK and Ireland. It is based in Derby, England. Shares in Totally were down 24% at 13.00 pence on Monday morning in London.

The company reported a pretax loss of £1.8 million in the year ended March 31, up from £1.3 million the year prior. Revenue in the year increased 6.5% to £135.7 million from £127.4 million.

Looking forward, Totally said it expects revenue in the year ahead to be lower than the year just reported amid ‘increasingly challenging’ operating conditions. The company’s earnings before interest, tax, depreciation and amortisation in financial 2024 are expected to be ‘marginally’ below the year prior.

‘We have not been immune to the challenges facing all businesses in the UK and the impact of well-publicised pressure within the healthcare sector including an NHS in crisis. We have been required to make difficult decisions as increased demand, workforce shortages and inflationary challenges impacted our business in exactly the same way as the NHS and other providers of NHS services,’ the company said.

Totally declared a final dividend of 0.125 pence per share, bringing its total dividend for the year to 0.625p. This was done from 1.0p the year prior.

Copyright 2023 Alliance News Ltd. All Rights Reserved.