Totally plc, a provider of frontline healthcare services, corporate fitness and wellbeing services across the UK and Ireland, has reported “improved performance, against a tough operational backdrop,” in a new trading update for the 12 months ended 31 March 2024 (FY24).
This is despite a dip in revenue, with Totally anticipating, subject to audit, to report revenue for the period of £106 million, down from £135.7 million in the year prior.
The Derby-based business, meanwhile, anticipates reporting EBITDA for the full year of £2.3 million, growing from £1.1 million in H1 24.
During FY24, the group executed internal restructuring to right size the organisation in a difficult operating environment. Actions during the second half of the year delivered further reductions in overhead costs leading to a full year reduction in FY24 of £2.2 million and annualised savings of £3.5 million. FY24 exceptional costs incurred to achieve these cost savings are forecast to be £0.8 million.
Wendy Lawrence, Chief Executive Officer, Totally, said: “We remain steadfast in our commitment to stand alongside our healthcare colleagues to ensure the population can access the care they need when they need it.
“Our teams have worked tirelessly during times of unforeseen pressure with clarity and I am proud of the way Totally has approached these times and managed its own pressures without compromising quality.
“There is no doubt that the market continues to be difficult, and as commissioners have considered the actions required to move forward, we have also ensured that our house is in order. We have robustly addressed the cost base, which ultimately protects the services we deliver to patients, our workforce and long-term shareholder value.
“These cost savings supported our performance for FY24 and will continue to do so in future years. I am delighted to see new business opportunities emerging as we turn our focus to a return to profitability and growth.”
