PHSC plc Trading Update

 
TIDMPHSC 
 
18 May 2015 PHSC PLC 
 
                                Trading Update 
 
PHSC plc ("the Group"), 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 for the 
financial year ended 31 March 2015. 
 
These indicative figures are per management accounts, currently in the process 
of audit. 
 
Consolidated Group revenue for the period was around GBP 7.7m representing a 
slight increase over 2013-14 (GBP 7.6m). 
 
EBITDA prior to the cost of acquisitions rose by around 11% to GBP 0.81m, 
compared with GBP 0.73m last year. 
 
Under accounting rules the earn-out bonuses of GBP GBP0.233m paid in connection 
with acquisitions have been charged to the Profit and Loss account. Despite 
this, net assets rose toGBP 6.57m at year end (2014: GBP 6.40m), including cash 
of GBP 0.50m. 
 
Stephen King, CEO, said: "The financial audit is underway and, subject to any 
adjustments arising from that process, the Board is pleased to announce that we 
have achieved further profit growth over a period when total revenues were 
almost flat. A major factor, as indicated in my Interim Report, was that our B 
to B Links Limited subsidiary enjoyed the benefit of a large one-off order in 
Q2 and this led to an economy of scale that enabled us to deliver higher 
margins.A consequence of the resultant enhanced profit crystallising in H1, 
during the acquisition earn-out period, was an increased bonus payment falling 
due to the vendors. This was outlined in the Interim Report, where I also noted 
that this additional payment would have to be written off in line with the 
required accounting procedure. 
 
"The Group successfully negotiated a cashflow pinch-point during Q3 when final 
payments became due for B to B Links Limited, and ended the year with GBP 0.5m 
of cash. There are now no further payments due in connection with the 
acquisition of any Group subsidiary. 
 
"We expect to issue our Preliminary Announcement of Results towards the end of 
July 2015 and at that time I will comment in more detail about the contribution 
of each Group company" 
 
For further information please contact: 
 
PHSC plc                                                    01622 717700 
 
Stephen King 
 
[e-mail] 
 
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 & SafetyConsultants 
Ltd, RSA Environmental Health Ltd, Adamson's Laboratory ServicesLtd, QCS 
International Ltd, Inspection Services (UK) Ltd and Quality LeisureManagement 
Ltd provides a range of health, safety, hygiene, environmental andquality 
systems consultancy and training services to organisations across theUK. B to B 
Links Ltd offers innovative retail security solutions includingtagging, 
labelling and CCTV. 
 
 
 
END