7 September
2015
PHSC PLC
(“PHSC”, the
“Company” or “Group”)
Pre-AGM Trading
Update
PHSC plc, a leading provider of health, safety, hygiene and
environmental consultancy services and security solutions to the
public and private sectors, is pleased to announce an update on its
performance ahead of its AGM due to be held today. At that meeting
the Group Chief Executive, Stephen
King, will be commenting on the Group’s performance for the
period to the end of July 2015.
The conclusion of the two large contracts mentioned in the
Annual Report and Accounts has led to an expected reduction in
sales in the early part of the current financial year. Unaudited
consolidated Group sales (and other income) per management accounts
for the four months to 31 July 2015
were GBP2,129,500 (GBP2,292,000 for the same period last year) with
EBITDA of GBP66,351 (2014:
GBP216,000). Cash at bank as at
31 July 2015 increased to
GBP855,000 (2014: GBP706,000).
CEO Stephen King, commenting on
Group performance, said: “Management are continuing to focus on
replenishing the order book, and filling the spare capacity caused
by some large orders having been completed. Good progress has
been made, and we have a number of promising opportunities in the
pipeline. Our B to B Links Limited subsidiary has recently secured
new CCTV installations to a value exceeding GBP500,000 and these works are now in progress.
Our QCS International Limited subsidiary, specialising in quality
systems auditing and training, will generate additional income from
advising on major changes to quality standards that come on stream
later in the year. In tandem with efforts to increase revenues,
each subsidiary is considering whether reductions to the cost base
can be accommodated. Cash reserves are higher than for the
corresponding period last year, and we do not have the same cash
flow pressures because there are no further acquisition payments
due in respect of any of our existing subsidiaries.
We have been made aware of several businesses that are available
for acquisition, and evaluate each one to establish whether a
purchase would be in shareholders’ interests. Whilst some
discussions are ongoing, there is nothing concrete to report at
this stage.
I will expand on individual subsidiary performance when I report
on our interim results at the end of November 2015.
For further information please contact:
PHSC plc
Stephen King
01622
717700
Stephen.king@phsc.co.uk
http://www.phsc.plc.uk/
Sanlam Securities UK Limited (Nominated adviser and
broker)
020 7628 2200
Lindsay Mair/James Thomas
About PHSC
PHSC plc, through its trading subsidiaries Personnel Health
& Safety Consultants Ltd, RSA Environmental Health Ltd,
Adamson's Laboratory Services Ltd, QCS International Ltd,
Inspection Services (UK) Ltd and Quality Leisure Management Ltd
provides a range of health, safety, hygiene, environmental and
quality systems consultancy and training services to organisations
across the UK. B to B Links Ltd offers innovative retail security
solutions including tagging, labelling and CCTV.