23rd Jul 2015 08:48
LONDON (Alliance News) - Totally PLC Thursday said its pretax loss narrowed in the first half of 2015 after revenue more than doubled and the company said it expects to reach profitability before the end of the year.
The healthcare sector service provider and publisher reported a GBP72,000 pretax loss in the first half of 2015, narrowing from the GBP272,000 loss made a year earlier after revenue more than doubled to GBP418,000 from GBP196,000.
The company said it generated positive earnings before interest, tax, depreciation and amortisation in the first quarter of 2015 but this turned to a loss in the second quarter of GBP69,000. However, Totally said the gap to profitability is "closing" and it expects to make a monthly profit from the fourth quarter of 2015.
Totally said it has GBP189,000 of contracted revenue booked in for the second half of the year and said the evaluations of pilot studies on various contracts are expected to be completed during 2015, which, if renewed will lead to positive monthly Ebitda.
Totally is also talking to potential partners for a business-to-consumer offering and to enhance the company's offering to the NHS, alongside other talks about securing another partner to deliver health coaching via different business-to-business routes including pharma, personal medical insurers and large employers, it said.
"All of the above is carefully aligned to allow Totally to deliver on its short to medium term strategy for Totally Health and how it supports care provision across all sectors of healthcare provision," said the company.
Totally shares were up 16.5% to 0.233 pence per share on Thursday morning.
By Joshua Warner; [email protected]; @JoshAlliance
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