24th Nov 2021 07:00
PHSC PLC - Aylesford, Kent-based company that provides health & safety consulting - Posts revenue in first half ended September 30 of GBP1.7 million, up 21% annually from GBP1.4 million. Pretax profit narrows marginally year-on-year to GBP133,000 from GBP152,000. Earnings per share fall to 0.78 pence from 0.83p. Notes improved trading due to UK government restrictions in response to the Covid-19 pandemic being lifted or relaxed. The return to normal working conditions results in reduced grant receipts as part of the government furlough scheme, down sharply to just below GBP30,000 for the first half of financial year 2022 from around GBP316,000 a year earlier.
PHSC's Systems Division has bounced back "exceptionally well" from the enforced suspension of many of its activities, including the delivery of public training courses. Similarly, general safety consultancy and training sales have shown a marked improvement. However the Security Division has not returned to the level of pre-pandemic trading. This is due predominantly to the permanent closure of former key clients such as Debenhams, Peacocks and Edinburgh Woollen Mill, PHSC explains.
Looking ahead, PHSC struck a confident tone: "The board is generally satisfied with the group's performance at this stage of its Covid-19 recovery programme and is confident that further progress can be achieved over the remainder of the financial year".
Declares an interim dividend of 0.5 pence, flat on last year.
Current stock price: 19.35 pence
Year-to-date change: up 38%
By Will Paige; [email protected]
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