PHSC plc Pre-AGM Trading Update
September 07 2015 - 1:00AM
UK Regulatory
TIDMPHSC
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.
END
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