By Michael Susin
Totally PLC, a leading provider of healthcare services in the U.K. and Ireland, has expressed confidence in its fiscal 2024 performance outlook despite facing higher-than-expected staff costs. While the company faces challenges with new contract decisions currently on hold, it is taking proactive measures to streamline operations and adjust to a smaller overhead base.
In a statement released on Friday, Totally PLC emphasized its unwavering confidence in the medium to long term prospects of the business. The company remains committed to pursuing future contract opportunities as it navigates through the current challenging landscape.
Previously, Totally PLC had projected a decline in revenue for fiscal 2024 compared to the 135.7 million pounds ($172 million) reported in the previous fiscal year ending March 31. Additionally, earnings before interest, taxes, depreciation, and amortization are expected to marginally decrease from the levels achieved in fiscal 2023, which stood at GBP6.9 million.
At 0701 GMT today, shares of Totally PLC were down 0.87 pence, representing an 8.2% decline, reaching 9.75 pence.