StockMarketWire.com - Out-of-hospital medical service provider Totally swung to a full-year loss after it wrote down the value of previous acquisitions.

Pre-tax losses for the year through March amounted to £1.8m, compared to a profit of £2.1m on-year.

Totally said it had written down the carrying value of goodwill relating to acquisitions made during 2016 to the tune of £2.0m.

Revenue rose 84% to £78.0m, while the company's gross profit rose 73% to £12.1m.

Totally did not declare any dividends.

'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,' chairman Bob Holt said.

'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 were rated as good.'

'About Health, our dermatology business, has 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.'

At 8:08am: [LON:TLY] Totally PLC share price was 0p at 10.1p



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