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PHSC raises interim dividend as profit goes up but revenue falters

16th Nov 2023 14:28

(Alliance News) - PHSC PLC shares jumped on Thursday after the company said it delivered an "improved performance" in its latest half year, although revenue saw a slight decline.

Shares in PHSC were up 12% at 20.75 pence on Thursday afternoon in London.

The Kent-based provider of health, safety, hygiene and environmental consultancy services said pretax profit increased in the six months ended September 30 to GBP158,000 from GBP132,000 the prior year.

PHSC declared an interim dividend of 0.75 pence per share, up 50% from 0.5p the previous year.

Revenue for the period remained broadly flat at GBP1.6 million, with a year-on-year decrease of 1.7%. PHSC also said QCS, its management systems division, "saw some slippage" in Ebitda and revenue and is seeking to increase personnel numbers as its current staff "are already working to capacity".

Cost of sales decreased to GBP758,000 from GBP804,000, while administrative expenses decreased slightly to GBP743,000 from GBP744,000.

For the rest of the current financial year, PHSC "believes there are plenty of opportunities for each of our three [safety, security and management systems] divisions." It said it will be able to continue delivering positive outcomes for its shareholders once it recruits "extra personnel of the right calibre".

By Emma Curzon, Alliance News reporter

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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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