Shares dive after Totally loses key contract
By Abigail Townsend
Date: Friday 14 Feb 2025
(Sharecast News) - Shares in Totally plunged as trading got underway on Friday, after the AIM-listed firm said a key NHS contract had not been renewed.
The company, a specialist provider of healthcare and wellbeing services, said the £13m NHS 111 National Resilience support contract would come to an end on Saturday.
Totally said the decision reflected NHS England's strategy of no longer providing resilience services at a national level.
It also noted that it was not reliant on a contract extension to meet its 2025 full-year forecasts. It therefore remained on track to deliver revenues of £85m and earnings before interest, tax, depreciation and amortisation of £3.5m in the current year.
However, it warned: "The board's financial expectations for the year ending 31 March 2026 did assume a renewal of the NHS 111 contract, however at reduced level.
"Work will now commence to redeploy workforce where possible, along with securing new contracts with new providers, although exceptional costs are expected.
"Based on the current revenue run rate, new contract wins and the current new business pipeline, the board now expects the financial performance of the 2026 full-year to be at a similar level [to 2025]."
As at 0830 GMT, the stock had lost 20% at 5.29p
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