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Totally focused on more acquisitions after cash call as 2016 results boosted by three purchases

Totally focused on more acquisitions after cash call as 2016 results boosted by three purchases

Healthcare services provider Totally PLC (LON:TLY), which earlier this month raised £17.6mln, is focused on making more acquisitions in 2017 having completed three last year which helped drive growth in its profits and revenues.

The AIM-listed firm saw its gross profit increase to £1.4mln for the full-year to December 31 2016, up from £0.4mln a year earlier, as turnover jumped to £4.0mln, from £0.6m in 2015, which it said exceeded market expectations. The group, which pointed out that its cash position is over £17mln following completion of the placing and open offer in March, said “significant progress” was made “delivering a progressive ‘buy and build’ strategy, aimed at establishing Totally as a leading provider of ‘out of hospital’ care in the UK”.

In today’s results statement, Totally’s CEO Wendy Lawrence, said: “It was a hugely significant fundraise for the Company and represented a defining moment in our expansion as we continue to build ourselves as a leading out of hospital healthcare services provider in the UK. The positive response we received from investors was incredibly encouraging as we act as a consolidator in the fragmented UK healthcare market and seek attractive opportunities.”

See the article in full at Proactiveinvestors.co.uk