LONDON (ShareCast) - (Sharecast News) - Out-of-home hospital services provider Totally reported revenue growth of 83.5% in its final results on Wednesday, to £78.0m.
The AIM-traded firm said its gross profit for the 12 months ended 31 March was up 73% to £12.1m, while EBITDA improved 450% to £1.1m.

Cash stood at £7.5m as at 31 March, rising from £10.2m year-on-year.

On the operational front, Totally reported a successful year in which it delivered on a number of agreed operational targets.

It secured new and renewed contracts across a number of regions across the UK, with a value in excess of £35m.

Major improvements were made to Vocare service provision, which the board said was evidenced by Care Quality Commission ratings with 18/20 of its registered services rated 'Good'.

Additionally, in what the Totally board described as an "almost unprecedented" move, the CQC upgraded Vocare's Royal Stoke urgent care centre service by two ratings within six months, from 'Inadequate' to 'Good'

Post-period end, it completed a £9.7m fundraising, and made the "highly complementary" acquisition of Greenbrook Healthcare.

"Cash was again well managed," said Totally chairman Bob Holt, who added that there were no further earn-out payments due on any of its operating subsidiaries.

"The Vocare acquisition in October 2017 brought its challenges but I am delighted to confirm that the business is performing in line with the expectations we had when the business was acquired.

"When we acquired Vocare the operational performance was less than Totally would find acceptable - I am therefore delighted that as at the year end 18 out of 20 registered services reviewed by the Care Quality Commission (CQC) were rated as Good."

Holt said Totally's dermatology business About Health had progressed "well", and was successful in both growing the contract base and the range of services provided.

"The remaining businesses have continued their work with the NHS and other public sector bodies including expanding services across prison services in England.

"All stakeholders will be aware of the buy-and-build strategy that the group adopted some years ago.

"Since the year-end the group announced the acquisition of Greenbrook Healthcare, a leading provider of NHS urgent care centres in London."

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