Totally Share Discussion Threads

[sikhthetech] 11/7/2018 12:24

"Having completed the transformational Vocare acquisition and added to its already well experienced management team, Totally is now tasked with grasping a very significant opportunity within UK healthcare. The NHS' direction of travel has been to address the impact of non-acute presentation at its hospitals. Totally is committed to building a business which provides this triage and a range of support services including, but not limited to, urgent care. While the company has not yet completed the “buy” component of its “buy and build” strategy, it has made significant strides while retaining a key cash generative quality. Final results, for the 15-month period to March 2018, highlight great progress and prospects. We believe that the share price does not reflect this, offering an equity value only just over the current net cash position. It is time for the market to reflect on the prospects for a unique company operating in high growth markets."

[jdunning] 11/7/2018 12:09

Added 57.5k

[sikhthetech] 11/7/2018 11:28

"Strong net cash position of £10.2m
The Group ended the period in a strong financial position with net cash of £10.2m representing around 82% of the pre-results market cap of £12.4m. This reflects the fund raise of £17.6m in March 2017 and thus the Group is well placed to continue its stated buy & build strategy in the UK out-of-hospital healthcare sector. However, there is still a contingent consideration of up to £3m still to be paid and if payable this will reduce cash balances in FY202."

[sikhthetech] 11/7/2018 10:58

Integrated care and NHS plans for the future - it's still early days.... TLY are one of few players here...

Integrated care systems (ICSs)

[sikhthetech] 11/7/2018 10:31

I think the short term nature of the contracts is down mainly to PFI, which were...long term contracts...

PFIs were made widespread by Labour... They involved long term contracts and have cost tax payers billions... I think the govn learnt from this and decided to go for short term contracts... Nowt wrong with that and works both ways as could be seen with Somerset's contract, which was mutually terminated...

[the big fella] 11/7/2018 10:25

I sold 190k between 23 - 24 yesterday morning. The 100k at 23 not been reported for some reason.

Difference- If you read my post yesterday morning I think you will find it is one of the more measured posts at that time. Hardly a ramp and flagged balance sheet concerns. I was expecting the worst and was pleasantly surprised for the reasons stated. Also that it enabled me to get out of a share I really didn't want to be in.
This shall leave you too it now. thanks.

[sikhthetech] 11/7/2018 10:24

TBF,

Thanks for your concerns and good luck...


For me, the results were good news. Up until yesterday, we didn't know exactly how Vocare was performing... The results provide some clarity and something to measure future performance against...

[grahamwales] 11/7/2018 10:22

Don’t forget Care UK is up for sale. Too expensive for TLY but they may not be as competitive if and when someone else takes them on.

Looking forward to 2020 and profitable company paying dividends:-)

[difference] 11/7/2018 10:14

Nowt wrong with announcing the sales, agreed longshanks, but to be basically positive one day and reverse course nastily immediately after selling the next just stinks!
How many was it? About 250k if I remember? Oh well when the delayed trade appears from 9.30 this morning or whenever, we'll know whose it was and why the drop.

Actually it's not really a drop as it was around 24p to buy first thing and just over 23p to sell. So the sale has mainly been well absorbed. -:)
Won't be rushing to buy stocks where I see that username involved in the near future!

[longshanks] 11/7/2018 10:03

Nowt wrong with announcing your sales TBF. Thank you for sharing your rationale. I share your concerns over the balance sheet (negative net current assets) but equally am aware that this was the state of affairs just two months after the Vocare acquisition.To my mind this is heavily oversold and undervalued on balance, and as a gambler I like the odds. Now that the closed period is over, if the company does start the much anticipated share purchases then this would indicate that the balance sheet (7 months on) is much, much healthier and with it sufficient free cash flow, which appears to be a strong feature of this business model, to support these purchases.

[deltrotter] 11/7/2018 09:53

The price will go up and down dave no matter what. I prefer to concentrate on what I believe is value.

As alluded to by the Allenby report yesterday and to which I have informal confirmation, the company has tendered for a LOT of business at the moment.

How much of that they win remains to be seen, but I believe if they are successful with part of it, it totals 10s of millions.

The short-term contract nature is of no particular issue to me. Remember by short-term we are talking 2-5 years. The service provided does not then stop, it will be readvertised and if the company has done a good job then they will be top of the list to retain it. That is why it is really important to see the improvements that Totally have made with Vocare in the results yesterday.

This is unlike a ship, which once built you then have to look for someone else who wants a ship built.

I don't think many people understand that part.

[nobbygnome] 11/7/2018 09:52

Each to their own. However, the facts are all there for anyone to see this is undervalued.

The new IUC contracts are up for grabs shortly so the point about renewing contracts just to stand still is rubbish. Indeed when these contract wins are announced, that may well be the catalyst for a rerating. Onwards and upwards!

Nobby

[the big fella] 11/7/2018 09:49

This is what I posted yesterday:

Nobby

There was always likely to be some selling pressure as a few that were sucked in cut and run. However I have had a good read of the results. I was fully expecting a complete basket case with significant cash burn etc etc given the share price movements leading up to these results. However I was pleasantly surprised. Cash controls seem to be tight, profit turnaround decent given that these only reflect 5 months. the one thing I dislike isthe balance sheet is complicated and weak. Loaded with intangibles, but given the takeover and nature of the business this is only to be expected I suppose.

I wouldn't consider it a ramp, but also not negative. I suspect it was one of the more reasoned posts yesterday morning.

I will keep an eye on how things turn out for TLY.

[dave4545] 11/7/2018 09:46

TBF

You made great money on this before but you are ready to stick the boot in after you sell out. You could have just said nothing and moved on. That to me suggests you want others to sell so you can buyback cheaper.

[deltrotter] 11/7/2018 09:45

Fair play TBF.

I am holding and adding. My eye is on the future with this one (and that is still relatively close).

[the big fella] 11/7/2018 09:45

Nope, why would i.

[dave4545] 11/7/2018 09:41

TBF

Funny you did not voice those concerns when the price was soaring yesterday morning
and you held :-))

[the big fella] 11/7/2018 09:33

Just for the record I am out. The reasons for this decision:
I only originally bought as a short term trade for the Miton bounce, that came and went in a flash. I did manage to make a tidy profit but was left with 90k shs that were soon under water. Having bought an additional 100k as 21.3p when the opportunity came to offload all between 23. – 24p yesterday to make a small profit I was happy to do so.
The bull case has been posted time and time again on here. However, I do not like the state of the balance sheet one bit, and when I see so many going concern disclaimers at the bottom of results it always makes me nervous. The margins appear to be wafer thin. So by cherry picking they have managed to improve these slightly. But healthcare budgets are constantly being squeezed, so this could easily go the other way.
I also don’t like the short term nature of the contracts. You keep having to renew them just to stand still.
And one final point when something generally seems too good to be true (as everyone posting on here would have all to believe) it generally is.
There are some good posters on this thread who more often than not call these things right. So I wish you good fortune.

[dave4545] 11/7/2018 09:31

23.05-23.5p online

Does not matter how much of a bargain a stock is others will still sell, they cannot bare to hold a stock that is drifting down.

Great price for anybody not in this one yet, could even go a fraction cheaper

[deltrotter] 11/7/2018 09:05

Looks like someone has with the 25k.

[jdunning] 11/7/2018 08:50

Nice tempted to top up myself

[parob] 11/7/2018 08:30

The last 20K and 16572 are mine. Pleased to get them under 24p!

[nobbygnome] 11/7/2018 08:16

The 20k at 24p was me....

[jdunning] 11/7/2018 08:01

Big 200k trade was that part of the buy back I wonder

[nobbygnome] 11/7/2018 06:40

>> parob

So that would be 7 fold up from here 😳.....