14th Feb 2025 11:05
(Alliance News) - Totally PLC on Friday said its support contract with the NHS has not been renewed, hurting the firm's forecast for financial 2026.
Shares in the Derby, England-based provider of healthcare and wellbeing services across the UK and Ireland were down 17% to 5.50 pence in London on Friday morning.
Totally's 111 national resilience support contract with NHS England will conclude on February 15, as a result of NHS England no longer providing resilience services at a national level. These services had supported 111 pressures at a local level, with a contract value of around GBP13 million, GBP12 million of which will be recognised during its current financial year.
The firm remained "confident" in its financial 2025 performance nonetheless, forecasting revenue of GBP85 million for the year due to end March 31, alongside GBP3.5 million in earnings before interest, tax, depreciation and amortisation.
This would be a 20% fall in revenue from GBP106.7 million last year, but a 52% rise in underlying Ebitda from GBP2.3 million the year before.
In light of the contract loss, however, Totally has reduced its expectations for financial 2026. It now expects its results to be at a similar level to its financial 2025 forecast.
"The level of demand for NHS 111 support and the level of capacity available within local providers to respond to demand has not changed and Totally will continue to work with the NHS to provide services that ensure patients can access the care they need quickly, which will include both telephony and clinical assessment services," said the firm.
"The company continues its conversations with commissioners, including Ambulance Trusts, to mitigate the impact of high demand on services via the provision of Totally's telephony, online and clinical assessment services. The board strongly believes Totally offers a proven, cost-effective solution to resilience with good performance, productivity metrics and best in class outcomes."
By Emily Parsons, Alliance News reporter
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