Totally sees FY underlying earnings 'substantially' ahead of expectations

Healthcare services provider Totally said on Tuesday that based on draft unaudited numbers, it now anticipates reporting full-year underlying earnings "substantially ahead" of both management expectations and its prior year comparative.

Totally said its "resilient and improved trading performance" was due to multiple factors but stated it was primarily a result of it being able to respond "proactively and quickly" to numerous demands for its healthcare services during the global Covid-19 pandemic.

As of 31 March, Totally highlighted it was in "a healthy financial position", with £14.8m of net cash, no debt financing and all deferred HMRC payments paid in full.

The AIM-listed group added that it continued to make "strong progress" with its stated strategy of delivering a range of quality healthcare services across the UK and Ireland in partnership with the NHS and other healthcare providers.

For the year ended 31 March, Totally now expects to release its audited final results in July, with underlying EBITDA pegged to be above the £4.0m recorded in the prior year, with the group's directors also expecting to re-introduce market guidance upon publication of its earnings report.

As of 1020 BST, Totally shares were up 12.03% at 34.56p.