Business
Pre-AGM Statement
Pre-AGM Statement.
About this update from Phsc Plc
[{"type":"text","content":"\n \n8 September 2014\n\nPHSC PLC\n\nPre-AGM Trading Update\n\nPHSC plc (\"the Group\"), a leading provider of health, safety, hygiene and\nenvironmental consultancy services and security solutions to the public and\nprivate sectors, is pleased to announce an update on its performance ahead of\nits AGM due to be held today. At that meeting the Group Chief Executive,\nStephen King, will be commenting on the Group's performance for the four months\nto the end of July 2014.\n\nThere has been a small reduction in sales over that period of GBP60,000 due\nprimarily to timing differences on one or two contracts and which are\nanticipated will be recouped in an improved second half.\n\nThere has been an uplift in profitability of around GBP39,000 in the period as\nwe become more efficient over time in managing contracts within our acquired\nbusinesses.\n\nUnaudited consolidated Group sales (and other income) per management accounts\nfor the four months to 31 July 2014 were GBP2,291,982 (GBP2,351,965 for the\nsame period last year) with EBITDA of GBP216,000 (2013: GBP177,000). Cash at\nbank as at 31 July 2014 was GBP706,000 from which GBP105,285 was subsequently\npaid as previously announced in relation to the final instalment for the\nacquisition of QCS International Limited (\"QCS\"). We have also been required to\ninvest heavily in additional stock as we gear up for some large contracted CCTV\ninstallations during the second half of the year.\n\nCEO Stephen King, commenting on Group performance, said: \"Sales and EBITDA are\ngenerally in line with where we expected them to be at this stage. We continue\nto see 2014-15 as a period of consolidation. We continue to manage our cash\nreserves carefully ahead of the final payment for the acquisition of B to B\nLinks Limited which falls due in Q3. We have provided for a final payment of\nGBP250,000 in our accounts although we anticipate, given the ongoing positive\ntrading performance of B to B, that this figure will be exceeded.\n\nI will expand on individual subsidiary performance when I report on our interim\nresults in mid-November.\n\nFor further information please contact:\n\nPHSC plc\nStephen King 01622 717700\[email protected]\nwww.phsc.plc.uk\n\nNorthland Capital Partners Limited (Nominated Adviser & Broker)\nEdward Hutton / Gavin Burnell 020 7382 1100\nJohn Howes / Alice...