Totally Share Discussion Threads

[smithie6] 24/11/2023 10:36

1gw

The goodwill will surely get a kicking but it is not a cash charge & I don't think anyone will be that bothered about that. (& it reduces any tax to pay, which is a real cash cost)

[spacedust] 24/11/2023 09:59

Believe it or not none of that matters. Price will keep going up now.

[1gw] 24/11/2023 09:35

Depends on exceptional costs (e.g. restructuring) and whether they have to impair any of the goodwill. Balance sheet at end-FY23 showed £44m goodwill, £37m net assets; market cap at end-1H was £14m.

[smithie6] 24/11/2023 08:28

So, as Sikh has highlighted the co. has said that EBITDA should be similar although lower than the £6.9m achieved in the prior fin. year.

What might that mean for PBT ?

...answer.
£1.8m PBT in the previous fin. yr

[nobbygnome] 24/11/2023 08:26

Those trolls need to work harder….

[smithie6] 24/11/2023 08:26

224,719 buy went thru at 8.9p when the mkt price to the NMS was <=8.7p

So someone clearly wanted to buy a fair chunk & not wait.

[nobbygnome] 24/11/2023 08:23

Looking perky again this morning….

[sikhthetech] 23/11/2023 22:25

TLY:

No early TU, so I think no substantial change to their most recent trading statements.

We have:
fy period, revenue, cash, adj Ebitda
2023 £135.7m, £6.5m, £6.9m

No evidence of significant selling by IIs - around 47% held by IIs, with Liontrust adding some early Oct.

Dividend paid - total fy2023 was 0.625p per share

All AGM resolutions passed, vast majority unanimously. 91m, which is around the total held by IIs.



1st Sept - AGM statement - reiterates fy TU
"The Board's outlook for the current financial year remains consistent with that communicated alongside the full year results of the Company in July 2023."


10th July - fy results
"Post period update
The Board anticipates revenue in the year ahead to be lower than in the period to 31 March 2023. EBITDA is expected to be marginally below the period to 31 March 2023 reflecting improved margin driven by higher volumes in elective care, and the continued management and reduction of overhead spend. "



Revenues by division for fy2023:

Electives care revenue almost doubled to GBP35.2 million (2022: GBP17.8 million) with gross margin increasing to 19.8% (2022: 18.4%). Excluding the impact of acquired revenue in FY22 (GBP12 million) organic growth was 21%.

Urgent Care revenue decreased 10% to GBP98.8 million (2022: GBP109.2 million) as four contracts in North West London came to an end; with gross margin stable at 17.6% (2023 17.7%).

Corporate wellbeing revenue of GBP1.7 million (2022: GBP0.3 million) with gross margin increasing to 41.5% (2022: 31.9%). Excluding the impact of acquired revenue in FY22 (c. GBP1.2 million) organic growth was 40%.



MCAP: £16m

[spacedust] 23/11/2023 20:55

hxxps://www.gbnews.com/money/uk-house-prices-crash-latest-warning-to-homeowners

[spacedust] 23/11/2023 20:50

Where is the residential property crash that experts were spouting....40% etc. What load of bulls clocks

[jugears] 23/11/2023 19:23

Sikh don't forget to tell everyone what that stupid REIT did, silly man gutted the house & couldn't afford to put it back together so no technically it was nothing like the nice house he bought & certainly wasn't worth the money he paid for it when he was forced to sell!!!! are you really that thick or do you thing the rest of us are stupid, for a start REITs are very difficult properties to sell for many reasons & not very easy to get a mortgage this is not even comparable to private housing & I am 100% sure that the had the house not been converted would have been worth in excess of what they paid for it 2 years ago.
Sikh, Nurse stations,work stations, Reception desks, specialist door sets mainly.

[spacedust] 23/11/2023 17:46

I haven't seen any property prices since lizzy and kwasi affair fall by 20 to 30% either in London.

[sikhthetech] 23/11/2023 17:21

Hybrasil,

I provided solid evidence of a property sold by a REIT at around 30% loss.


Jugears doesn't like evidence. Initially he argued that it can't be the same property to which I provided solid evidence. He then moved the goal posts.
He claims "there haven't been any houses that have fallen by more than 5%-10% in the last few years except perhaps a hand full"



Back to TLY

What do you supply to the NHS/TLY, Jugears?

[nobbygnome] 23/11/2023 16:45

Yes sounds like BYOT!

[jugears] 23/11/2023 16:41

More fool them then lol oh lol, that's what happens when you make very irrational decisions & are poorly ran, not really comparable to the private housing market, & they have plenty of law suites against them. I hope for all those that are substantially out of pocket here that next week brings good news but having supplied to the NHS for over 40 years on & off they always go for the cheapest price & you soon loose work when you try & increase those prices, I did say when I sold at 21p that the numbers just didn't add up on their contract wins, I personally don't see much changing in the current climate, I am not sure that paying the abysmal pittance of a dividend is anything to go on but what do I know, I have only ran my Family business for nearly 50 years, & manged to increase profits & turnover every year bar one & successfully sold that company out recently, you don't make profits by being cheap!

[hybrasil] 23/11/2023 16:26

Jugears

See Home Reit

They have just sold 135 properties at average 35% of what they paid for them

[jugears] 23/11/2023 13:41

5X wouldn't that still be lower than the begging of the year? let us all not forget that sikh only has one agenda & that is his own which is to recover as much money that he has lost here as he possibly can, he has been trying to convince us all on the TW. thread that house prices have fallen 30% with an example of a house that was sold in Luton 2 years ago, purchased & then gutted by a REIT that ran out of money & had to be of loaded at an auction due to the dire condition it had been left in hence the reduction in price by 30% lol oh lol!

[smithie6] 23/11/2023 12:30

.".rise another 300%..."

Bring it on !
:-))

[888icb] 23/11/2023 12:20

Now up 12.2% at 8.25p on volume of 771000. Pleasing to note after the dreadful share price performance this year, this share hit a low of 6p one month ago but has moved up over 30%. The bad news is it needs to rise another 300% to get back to where it was earlier in the year!

[nobbygnome] 23/11/2023 11:12

And of course I know that really it’s all about your long term feud with STT. Previously I have criticised him for his approach as it ruins good threads like this TLY one used to be

[nobbygnome] 23/11/2023 11:00

Dear oh dear. Some real troll speculation in that post. You ought to spend a bit more time scrutinising BYOT which is an absolute disaster. No chance of EBITDA there…

And I would like to stress I don’t want to get in to a slanging match. I haven’t posted on the BYOT thread for years but you are frequently here!

[1gw] 23/11/2023 10:55

Just as a reminder, the guidance given with the preliminaries for the full year was as follows:

"The Board anticipates revenue in the year ahead to be lower than in the period to 31 March 2023. EBITDA is expected to be marginally below the period to 31 March 2023 reflecting improved margin driven by higher volumes in elective care, and the continued management and reduction of overhead spend."

So revenue lower by an unquantified amount and EBITDA marginally lower.

In the September AGM statement they talked about costs going up and contract awards being on hold, leading them to embark on a cost-cutting drive:

"The cost of agency staff required to deliver safe services for patients exceeds our anticipated forecasts and many decisions related to the awarding of new contracts are currently on hold."
...
"In addition to this, we are actively implementing strategies to streamline our operations and to align them with a smaller overhead base which more readily reflects the current contract requirement. "

So staff costs up, new contracts not coming in as hoped, cost-reduction restructure underway.

The profit guidance relates to EBITDA, and presumably adjusted EBITDA at that. So away from the headline numbers it will be interesting to see what "extraordinary" costs they reveal for the restructure and (again) whether they have taken an impairment on the goodwill (neither of which should impact the adjusted EBITDA number). It will also be interesting to see to what extent they have returned to being cash generative.

I note results are around 2 weeks later than in FY22 and FY23. Were they waiting for some anticipated good news (contract award?) or were they wrestling with difficult choices or was it just a function of uncertainty caused by the restructuring?

For reference, the share price closed at 12.75p on the day of the preliminary results and 8.75p on the day of the AGM statement.

[spacedust] 23/11/2023 10:10

Time to get some more before 10p