PHSC plc
Trading Update
15 May 2013
PHSC plc ("the Company"), 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 2013.
These indicative figures are per management accounts, currently
unaudited.
Consolidated Group revenue for the period was around
GBP 5.8m representing an increase of
approximately 30% over those achieved during the previous year
(GBP 4.4m).
EBITDA was approximately 35% higher than the previous year, at
GBP 0.6m compared with GBP 0.44m last year.
Net assets rose to approximately GBP
5.6m, including cash of GBP
216,000.
Stephen King, CEO, said: "The
improvement in revenues and profitability has come about as a
direct consequence of the Company's decision to diversify away from
its core activities. This has enabled us to exceed the forecasts
that we set ourselves at the start of the year. Our two
acquisitions (QCS International Limited and B to B Links Limited)
have both made positive contributions. Bank balances have decreased
due to acquisition payments, and cash is around GBP 700,000 lower than at the end of 2011/12.
Further instalments of almost GBP
450,000 in total fall due during Q2 and Q3 of 2013/14. Given
current trading and the resulting positive forecasts for our cash
flow we anticipate that the anniversary payments will be met from
the Company's cash resources, rather than from our bank financing
facility.
"The Company's trading subsidiaries are reasonably confident
that they can continue to deliver satisfactory results. More
details about how individual subsidiaries have performed will be
outlined in the Preliminary Announcement of Results, expected in
the first half of July 2013."
For further information please contact:
PHSC plc
Stephen King 01622 717700
Stephen.king@phsc.co.uk
www.phsc.plc.uk
Northland Capital Partners Limited
(Nominated Adviser & Broker)
Edward Hutton / Gavin Burnell 020 7796 8800
John Howes / Alice Lane (Broking)